EFE Securities •

1 year ago •

Market Commentary

Market Comment - 24.08.2022

ZSE annuls gains... The market reversed its prior session’s gains as the primary All-Share Index gave up 1.24% to 14361.47pts while, the Top 10 Index lost an almost similar 1.25% to 8762.98pts. Zse-Agriculture Index went down 2.65% as the Mid cap Index lost 1.31% to 29144.13pts. Property concern First Mutual Properties headlined the gainers list after a 11.63% jump to 6.0300 while, National Tyre Services surged 10.64% to end pegged at $13.0000. Seed producer Seed co Limited advanced 6.43% to $74.5000 while, Ecocash Holdings rose 2.18% to $39.9753. Innscor capped the winners list of the session on 1.27% uplift to $267.0461. Masimba Holdings led the losers of the day after a 15.00% slip to close the day at $42.5000, followed by Tsl limited that retreated 14.89% to $61.2813. Hoteliers Meikles Limited eased 6.47% to $93.5269 as National Foods Holdings dropped 6.20% to $1407.0000. Sealing the losers list of the midweek session was Proplastics that gave up 5.56% to end at $21.2500. The market closed with a negative breadth of four as fifteen counters gained whilst eleven counters lost ground. Activity aggregates closed mixed as the volume of shares traded increased by 73.23% to 2.62mn whilst, in contrast turnover slumped 4.27% to $147.72m. OkZim, Econet and Star-Africa were the top volume drivers after contributing 61.65%, 19.59%,3.30% respectively. Econet, OkZim, and Delta contributed a combined 86.88% of the total outturn. Bindura was the only counter to register trades on the VFX after trading 43,168 shares at US$0.0311 post dropping 1.89%. of the latter and 64.61% of the former. The Datvest ETF trimmed 0.64% to $1.6904 as the MIZ ETF advanced 2.62% to $1.2113. Old Mutual ETF shook off 12.87% to close the day at $5.230.