EFE Securities •

2 years ago •

Market Commentary

Market Comment - 26.04.2022

All-Share records double digit growth... The ZSE ballooned in Tuesday’s session to see three of the indices in our review recording double digit gains. The All-Share Index garnered 11.94% to close at 28816.65pts while, the Industrial Index was 11.90% firmer at 95122.95pts. The Top Ten Index jumped 13.86% to close at 19166.09pts while, the Mid-cap Index ticked up 6.50% to 47015.01pts. Leading the top five gainers was media entity Zimpapers that went up 20.00% to trade at $4.1800, followed by mining house Riozim which added 19.97% to $142.4000. Life assurer Fidelity soared 19.97% to $20.6000 while, telecoms giant Econet closed at $329.0326 after improving 19.07% on firming demand. Ecocash Holdings capped the top winners’ list on a 17.83% uplift to $157.7654. The top decliner of the day was property concern Mashonaland Holdings that succumbed 12.85% to $3.7523. Logistics concern Unifreight gave up 11.61% to $30.0006 as brick manufacturer Willdale trimmed 4.22% to end at $3.8935. Turnall was down 3.91% to $7.2000 while, ART Holdings shrunk 1.73% to $157.7654 as it capped the top five fallers of the day. Activity aggregates improved during the day as turnover leaped 197.39% to $1.74bn while, volumes traded ballooned 3181.91% to 107.45m shares. General Beltings dominated the volumes category as it traded 100.52m shares which represented 93.55% of total shares traded. Anchoring the value aggregate was Econet (31.53%), Delta (17.17%), Innscor (12.98%) and General Beltings (12.78%) of the value outturn. The market recorded a market breadth of twenty-seven as thirty-three counters advanced against six that retreated. The three ETFs recorded gains as a total of 5.42m units exchanged hands. Datvest inched up 0.47% to $1.1735, Morgan and Co grew 5.70% to $19.7579 while, Old Mutual ETF ticked up 5.32% to $11.6003. No trades were recorded on the VFEX.