EFE Securities •

1 year ago •

Market Commentary

Market Comment - 23.09.2022

ZSE surges despite constrained supply... Thin volumes traded in the week-ending session as supply remained constrained across the board. The volume aggregate dropped 82.48% to 0.93m shares the lowest recorded since the 6th of June as turnover plunged 79.64% to close at $45.54m. The top traded counters by volume were FMP, FML, Mashonaland Holdings, Meikles and OKZIM with a combined contribution of 66.62%. The value aggregate was anchored by Natfoods, Meikles and Simbisa that claimed 28.82%, 20.91% and 11.02% in that order. Heavies led the market upsurge in Friday’s session as BAT headlined the winners on a 15.00% jump $2,070.0000. Beverages group Delta charged 14.99% to end at $169.1500 while, telecoms giant Econet advanced a similar 14.99% to settle at $78.1500. Conglomerate Innscor leapt 14.98% to $203.6500 while, FMP capped the top ten gainers of the day on a 14.98% lift to $5.1200. Other notable winners of the day were Ecocash (+14.93%), Simbisa (+13.37%), National Foods (+9.54%) and CBZ (+6.30%). The duo in NMB and AFDIS slipped 0.28% and 0.02% as the former closed at $16.0000 while, the latter ended at $299.9500. The market recorded a strong positive breadth of twenty-five as twenty-seven counters recorded gains against two that faltered. The ZSE Top Ten Index was the top gainer amongst the indices as it rose 12.88% to 6664.89pts trailed by the mainstream All Share Index that grew 9.77% to 11557.43pts. The ZSE Agriculture Index put on 6.99% to 66.50pts while, The Mid Cap Index added 4.12% to 26444.17pts. Nickel miner Bindura was stable at USD$0.0307 as 333 shares worth USD$10.0000 exchanged hands. The ETFs were mixed in the session as the Old Mutual ETF was the top riser with a 4.24% improvement to $4.2194. Following was the Datvest ETF that enhanced 3.86% to $1.4541 while MIZ went up 3.72% to $1.2500.