EFE Securities •

1 year ago •

Market Commentary

Market Comment - 23.08.2022

Market drips gains... The ZSE recorded gains for the second consecutive session as the All-Share Index posted a 0.24% gain to 14541.79pts while, the Blue-Chip Index was 0.32% up to 8874.36pts. The Mid-Cap Index inched up 0.07% to 29532.34pts while, the ZSE-Agriculture Index emerged as the only faller amongst the indices we review after dropping 0.14% to 82.06pts. Leading the gainers of the day was hotelier African Sun which soared 11.48% to $14.3657, trailed by bankers CBZ which extended 9.72% to $131.6667. Zimre Holdings Limited moved 9.70% up to $4.9231 as General Beltings Holdings surged 7.28% to $1.4000. Ecocash Holdings completed the top five list on a 5.75% rise to $39.1214. Bridgefort Capital led the shakers after shedding 14.86% to $13.7500 as bankers ZB Holdings faltered 13.18% to $84.1333. Clothing retailer Truworths fell 9.40% to $1.9931 while, telecoms giant Econet went down 2.84% to $119.8523 on waning demand. Tea company Tanganda capped the top five fallers set on a 1.46% loss to $127.8000. The market recorded a negative breadth of two as thirteen counters declined against eleven that gained. Activity aggregates closed mixed as volume of shares traded dropped 24.05% to 1.51m shares whilst, turnover grew 45.48% to $154.30m. OK Zimbabwe, Delta Corporation and Innscor dominated both the volume and value categories as the trio contributed a combined 81.20% of the latter and 64.61% of the former. On the VFEX market, Bindura Nickel ticked up 1.93% to USD$0.0317 on 43,610 shares while, Padenga traded 725 shares at a flat price of USD$0.3200. The ETF market traded 107,942 units worth $351,567 as Datvest ETF rose 3.71% to $1.7000 while, the MIZ trimmed 2.82% to $1.1804. Cass Saddle, Morgan & Co and Old Mutual ETFs remained stable at $1.5500, $28.5000 and $6.0000 respectively.