EFE Securities •

2 years ago •

Market Commentary

Market Comment - 22.04.2022

Bullish sentiment persists on the bourse... The bullish sentiment continued to prevail on the bourse in week-ending trades as thirty-three bulls charged on six bears to see the market close with a positive breadth of twenty-seven. The primary All Share Index advanced 4.43% to 24527.07pts while, the segregated Industrials added 4.37% to 81005.61pts. The Blue-Chips Index went up 4.32% to settle at 16007.66pts while, the Mid-Cap Index ticked up 4.78% to close at 42248.87pts. Leading the positive movers of the day was National Tyre services that surged 20% to end pegged at $12.0000, followed by mining house RioZim that strengthened previous session gains as it recorded a 19.99% rise to close at $109.2500. Packaging group Nampak grew 18.24% to $24.8000 while, tea company Tanganda jumped 15.97% to $258.0870. Innscor capped the top five winners of the day on a 15.65% uplift to end pegged at $500.4275 on firming demand. On the downside was property concern FMP that topped after dipping 9.57% to trade at $10.0000. Trailing was brick manufacturer Willdale that let go 3.72% to $4.0436 while, agriculture concern Ariston trimmed 2.32% to $4.1130. Banking group FBC shed 1.43% to $59.1429, reversing previous day’s gains while, retailer OKZIM completed the top five fallers of the day on a 0.09% retreat to close at $58.9428. Volume of shares traded dropped 58.13% to 2.37m, yielding a turnover of $484.80m which was a 58.67% decline from prior session. Top volume leaders of the day were Simbisa, Star Africa and Econet which contributed 19.09%, 14.81% and 13.47% of the outturn respectively. Heavies Simbisa, Delta, BAT and Econet claimed a combined 77.14% of the total turnover. ETFs continued to tumble as Morgan and Co ETF tumbled 1.22% to $18.4037, Datvest slipped 0.67% to $1.7262 and Old Mutual lost a negligible 0.02% to $11.0000. On the VFEX, Bindura traded 152,154 shares at a stable price of $0.0500.