EFE Securities •
2 years ago •
Market Commentary
Market Comment - 25.04.2022
ZSE rally continues in week-opener... The ZSE rally persisted into the new week as the market registered gains for the fifteenth consecutive session. The mainstream All Share Index jumped 4.96% to 25742.59pts as it sailed past the 25000pts mark while, the Industrial Index put on 4.94% to end at 85005.74pts. The Top Ten Index was the major gainer amongst the indices as it added 5.15% to close at 16832.30pts while, the Mid-Cap Index rose 4.49% to 44144.69pts. The rarely traded ZECO headlined the winners of the day as it surged 20.00% to settle at $0.0288 while, Meikles trailed on a 19.57% rise to end pegged at $268.0000. Banking group NMB soared 19.45% to trade at its YTD high of $25.0000 while, telecoms giant Econet garnered 16.42% to close at a vwap of $276.3393 having traded an intraday high of $284.8000. Capping the top five risers’ set of the day was tea company Tanganda that grew 14.72% to end at $296.0822. Leading the laggards of the day was agriculture concern Zimplow that dipped 7.64% to $23.4559. Financial services group ZB followed on a 5.09% retreat to $63.0000 while, packaging group Nampak went down 3.23% to $24.0000, as it reversed previous session’s gains. Retailer OKZIM continued to lose its glitter on the market as it trimmed a further 2.94% to close at $57.2114. Star Africa completed the top five shakers of the day on a 1.00% decline to $2.0348. Thirty-two counters recorded gains against eight fallers, leaving the market with a positive breadth of twenty-four. Volumes of shares traded advanced 37.95% to 3.27m as OKZIM, Star Africa and Econet claimed 15.50%, 12.10% and 11.34% of the outturn respectively. Market spend jumped 20.70% to $585.16m as heavies Innscor, Hippo, Econet and Simbisa accounted for a shared 78.58% of the turnover. Morgan and Co ticked up 1.57% to $18.6931 while, Old Mutual ETF improved 0.13% to $11.0143. The Datvest ETF trimmed 1.20% to settle at $1.7055. On the VFEX, Bindura traded 67,836 shares worth USD$3,391.80.