EFE Securities •

1 year ago •

Market Commentary

Market Comment - 22.11.2022

ZSE in modest movements ... The ZSE weakened further in Tuesday’s session as the All-share Index dropped 0.35% to 13722.001pts while, the Top 10 Index lost 0.11% to 7809.52pts. The Mid-cap and ZSE Agriculture Indices gained 0.02% and 0.32% to close at 73.23pts and 32851.85pts respectively. Clothing retailer Truworths topped the losers’ set as it fell 10.20% to $2.2000 while, bankers First Capital eased 9.92% to $9.0806. Brick manufacturer Willdale retreated 3.73% to close at $2.6982 as Ecocash Holdings shed 2.81% to $35. 9479.Conglomerate Meikles completed the top five fallers’ list on a 0.99% slide to $100.0000. Leading the winners of the day was property concern Mashonaland Holdings that put on 9.11% to $9.0000 on scanty 400 shares, trailed by Edgars that rose 5.89% to $9.5300. Sugar processors Star Africa advanced 2.78% to $1.8199 as First Mutual Properties ticked up 2.50% to $10.2500. Axia completed the top five gainers of the day after a 1.88% increase to $62.9826. The market closed with a positive breadth as gainers outweighed fallers by a count of eight. Activity aggregates improved in the session as reflected by turnover that jumped 9.27% to $1.27bn while, volumes garnered 170.38% to see 14.08m shares exchange hands. The heavy cap trio Econet, Ecocash and Delta dominated the volume and the value aggregates as they contributed a combined 94.27%of the former and 88.48% to the latter. On the VFEX, 480,285 shares in SeedCO International exchanged hands on a declined price of USD$0.3500. Morgan & Co MIZ added 2.70% to $1.2000 while, Morgan & Co MCS firmed up 1.99% to $22.0000. The only loser amongst the ETFs was Old Mutual ETF trimmed 9.20% to $5.7008.