EFE Securities •
1 year ago •
Market Commentary
Market Comment - 25.11.2022
Market ekes out gains as Nedbank ZDR launches... The market eked out gains in the final full week of the month as Corpserve launched its Nedbank ZDR which is set to trade on Monday. Meanwhile, the All-Share Index enhanced 0.75% to 14222.37pts while, the ZSE Top Ten Index grew 1.07% to 8205.14pts. The Mid Cap Index went up 0.26% to end at 32843.41pts on the contrary, the ZSE Agriculture Index trimmed 0.26% to 73.06pts. Mashonaland held the top position on the gainers table for the fourth consecutive session after surging 14.45% to $13.5103. Bankers NMB jumped 11.46% to trade at $26.7500 notwithstanding scrappy 400 shares. Fast foods group Simbisa boosted 6.77% to proclaim its last trading session on the ZSE at a price of $250.9187 albeit trading a high of $270.2500. Beverages concern Delta extended 1.29% to end at a vwap of $220.3317 having traded high of $235.0000 in the session. Getbucks was the fifth gainer of the day on a 0.26% uplift to $19.0000. Brick manufacturers Willdale succumbed 13.34% to $2.2952 as agriculture concern Ariston tripped 9.44% to $3.5770. Star Africa retreated 8.63% to $1.5688 while, Getbucks let go 5.56% to $1.7000. Property concern FMP slipped 5.08% to settle at $10.0136. Volume of shares traded declined 83.55% to 2.45m likewise, turnover dipped 69.55% to $210.24m. Volume leaders of the day were Mashonaland, Econet and Delta that claimed 31.78%, 31.31% and 10.36% apiece. Delta, Econet and Simbisa anchored the value outturn with respective contributions of 26.59%, 25.45% and 15.27%. On the VFEX, Padenga added 0.14% to USD$0.2795 on 5,150 shares worth USD$1,439.70. The ETF Index rose 0.073% to close at 348.9111pts. The ETFs traded mixed as the Old Mutual rose 0.63% to $5.6460 while, the Datvest MCS slipped 0.02% to $1.6979. A total of 97,876 units worth $253,585.52 exchanged hands. Elsewhere, Meikles released their HY2023 in which revenue jumped 70% to $129.31bn, declaring an interim dividend of USD$0.0025 per share.