EFE Securities •

2 years ago •

Market Commentary

Market Comment - 25.03.2022

ZSE eked out gains... The market registered a minor rebound in week ending trades as four benchmark indices in our review registered gains. The All-Share Index and the Industrials gained a similar 0.57% to close 15581.92pts and 51488.62pts apiece. The ZSE Top Ten added a negligible 0.01% to end at 10296.70pts while, the Mid Cap Index ticked up 1.96% to 25692.63pts. The top performer of the day was banking group FBC that soared 20% to close at its YTD high of $36.0000 on a scrappy 300 shares while, National Tyre Services ballooned 20% to end pegged at $8.4000. Property concern FMP jumped 18.05% to settle at $9.6804 while, hotelier African Sun continued to shine as it recorded a 14.49% uplift to $8.0496. Hippo held the fifth position of the gainers’ horizon with a 9.07% improvement to close at a VWAP of $299.9915 having traded an intraday high of $300.0000. The fallers’ pack was led by brick manufacturers Willdale that dipped 14.83% to $2.5552 followed by bankers NMB that trimmed 14.19% to $12.0136. General Beltings shed 11.45% to $1.3283 while, apparel retailers Edgars slipped 6.52% to $5.3750. ART capped the top five decliners of the day on a 5% retreat to $19.0000. The market closed with a positive breadth of one as seventeen counters gained against sixteen fallers. Activity aggregates were mixed in Friday’s session as volumes rose 10.52% to 3.69m shares while, turnover fell 9.77% to $180.62m. The top volume drivers of the day were OKZIM and Art that claimed a combined 66.82% of the outturn. Anchoring the value aggregate of the day were Delta, OKZIM and Innscor with respective contributions 37.45%, 28.17% and 13.45%. Bindura advanced 1.58% to end pegged at USD$0.0514 while, Padenga traded 122,790 shares at a stable price of USD$0.2100. The ETFs traded mixed with the Datvest and Morgan putting on 4.69% and 1.61% to close at $1.7560 and $14.1145 apiece while, the Old Mutual ETF let go 0.09% to trade at $9.9526.