EFE Securities •
2 years ago •
Market Commentary
Market Comment - 25.10.2022
Market in stable gains... ZSE maintained stable gains in Tuesday’s session to see the primary All-Share Index adding 0.63% to 14645.20pts while, the Blue-Chip Index rose 0.32% to close at 8632.08pts.The Mid-Cap Index doubled the previous day’s gains to record a 1.33% rise as it settled at 32269.73pts while, the Agriculture Index went up 0.59% to 75.57pts. Hotelier African Sun led the day’s gainers on a 9.69% surge to $23.7806, albeit on scrappy 3,100 shares while, Axia Corporation was 5.31% firmer at $64.6379. Ariston Holdings climbed 4.68% to finish at $4.2000 as milk processor Dairiboard picked up 3.99% to settle at $49.7158. Property concern FMP capped the top five winners’ list on a 3.68% gain to end pegged at $9.0400. Mashonaland Holdings Limited was the top laggard of the day after a 5.06% fall to $7.5000, followed by cement manufacturer Lafarge that slipped 3.23% to $120.0000. Telecoms firm Econet lost 2.46% to $84.6252 while, retailer OK Zimbabwe slid 0.37% to $32.8486. Sugar refiners Star Africa completed the top five losers as it dropped a marginal 0.06% to $1.6987. The market recorded a positive breadth of ten as eighteen counters advanced against eight that faltered. Activity aggregates enhanced as turnover grew by 4.79% to $254.72m while, volume of shares traded jumped 189.43% to 4.08m shares. The trio of Econet, Delta and Innscor accounted for a gigantic 86.73% of the value traded while, the rest of the portion was shared between other counters. Bankers First Capital and Econet claimed 37.56% and 33.03% of the total volumes traded respectively. On the VFEX market, Bindura ticked up 1.69% to US$0.0300 having traded 9400 shares while, Seed Co International grew 0.11% to US$0.3804 on a paltry 80 shares. Old Mutual ETF ticked up 1.20% to $5.5011 as Datvest improved 0.59% to $1.7100. Trading in the negative territory were Cass Saddle that declined 9.77% to $1.8678, MIZ which slipped 3.42% to $1.0624 and Morgan & Co Multi-sector ETF that gave up 2.95% to end pegged at $21.3501.