EFE Securities •
2 years ago •
Market Commentary
Market Comment - 25.01.2022
ZSE halts losing streak... The market rebounded in Tuesday’s trades halting losses accumulated in the past five trading days, buoyed by gains seen in heavy and medium cap counters. The All-Share Index was 1.60% firmer at 11473.09pts while, the old Industrials gained a similar 1.60% to close at 37914.06pts. The Blue-chip Index put on 2.10% to 7301.9pts lifted by gains in Econet, Delta and Innscor. Headlining the gainers of the day was Turnall that advanced 16.96% to $4.9707, trailed by dairy processor Dairibord that reversed yesterday’s losses on a 5.54% gain to $38.0000. Conglomerate Innscor added 5.12% to trade at $195.540063 while, fintech group Cassava climbed 4.90% to $52.0063. Logistics group Unifreight capped the top five gainers of the day on a 4.69% jump to $33.5000 as it continued to buttress gains for the fifth consecutive session. Getbucks led the laggards of the day on a 19.91% drop to $4.8500, followed by apparel retailer Truworths that slumped 6.86% to $2.0000 post the release of FY21 results. Banking group First Capital eased 2.77% to $3.5004 while, media group Zimpapers relinquished prior sessions gains as it dropped 2.39% to trade at $2.9282. Zimre holdings capped the top five fallers pack on a 1.97% fall to settle at $3.4002. Activity aggregates for the day improved as volume of shares traded went up 44.31% to see 3.74m shares exchanging hands while, value outturn surged 96.24% to $291.33m. Anchoring the value aggregate of the day were Econet, Simbisa, Delta and Hippo which claimed a combined contribution of 80.54% to the outturn. Econet and FBC were the top volume drivers of the day with respective contributions of 37.50% and 21.23% apiece. The Old Mutual Top Ten declined 0.25% to $6.9663 while, the Morgan & Co ETF was 2.22% up at $12.8000. A total of 29,844 units worth $344,779.65 exchanged hands in the two ETFs. Elsewhere, on the VFEX, SeedCo International was up 0.04% to USD$0.2846 as 7,491shares worth USD$2,131.95 traded.