EFE Securities •

1 year ago •

Market Commentary

Market Comment - 23.12.2022

Positive momentum continues... The ZSE continued a positive momentum in Friday’s session as Mashonaland Holdings contributed a large portion of the trades. The property concern traded a circa 91.2m shares, worth $1.12bn which represented 96.09% of volume and 99.20% of the value outturn. The mainstream All-Share Index soared 5.29% to close at 17350.85pts while, the Top Ten Index leapt 7.06% to end at 10704.59pts. The Mid-Cap index closed at 34786.56pts after picking up 0.95% as the ZSE Agriculture Index marginally went up 0.2% to 71.42pts. Conglomerate Innscor was 14.85% stronger at $519.1129 as it led the top five gainers of the day, followed by bankers First Capital bank which grew 14.38% to $11.7000. Hotel entity African Sun climbed 11.64% to $25.0000 while, Delta traded at $338.8863 after surging 8.98%. Axia Corporation completed on a 3.85% increase to $104. 1837.There were only three losers for the day Mashonaland Holdings, retailer OK Zimbabwe and sugar refiner Star Africa. The trio lost 15.00%, 1.50% and 0.16% to settle at $12.7500, $32.1956, and $1.6001 in that order. Activity aggregates improved as turnover rose 2.72% to $1.21bn while, volume of shares traded advanced 85.48% to 91.89m shares. On the VFEX, Padenga traded 82,774 shares while, Seed-Co International traded 330 shares as both counters ended the session flat at prices of USD$0.2280 and USD$0.2995 respectively. The ETFs traded a total of 94,992 units cumulatively. Old Mutual ETF lost 1.99% to $6.7716 as the duo of Datvest and MIZ added 3.09% and 0.07% to finish at $1.6000 and $1.1375 apiece. In other news, Bindura released it’s HY23 results as at 30 September 2022 in which it registered an 8% decline in revenue to USD$32.49m and a loss for the period was USD$5.37m. OKZIM also released its HY23 results that had a 34.91% increase of its revenue to ZWL$129bn as PAT jumped 192% to ZWL$3.96bn. The group also declared a dividend of USD$0.13centsINDEX