EFE Securities •

1 year ago •

Market Commentary

Market Comment - 26.09.2022

All-Share rebounds past 12,000pts mark... The market continued to advance in new week as heavy cap stocks sustained the surge. The mainstream All Share Index recovered past the 12000pts mark after putting on 8.88% to end the day at 12584.17pts. The Blue-Chip Index garnered 11.26% to 7415.12pts while, the ZSE Agriculture Index added 3.39% to 68.75pts. The Mid-Cap Index rose 4.28% to close at 27576.97pts. Leading the gainer’s pack for the second consecutive session was BAT that extended 15.00% to $2,380.5000, trailed by beverages group Delta that jumped 14.99% to $194.5000. Conglomerate Innscor soared 14.98% to end pegged at $234.1500. SeedCo Limited and Econet Wireless gained an identical 14.97% to close at respective prices of $88.3000 and $89.8500. On the downside was TSL that dipped 7.53% to $40.5000 followed by banking group CBZ that trimmed 5.90% to $137.2000. Zimplow slipped 4.51% to $14.0364 while, Turnall shed 0.15% to $3.3150. Completing the top five laggards of the day was Star Africa which slumped 0.12% to $1.5962. Activity aggregates were mixed in Monday’s session as reflected in volumes that edged up 85.57% to 1.72m while, turnover tripped 22.25% to 35.41m. Volume drivers of the day were African Sun, Star Africa and Edgars that claimed 28.86%, 18.83% and 16.29% individually. Anchoring the value aggregate was African Sun, Masimba, OKZIM and Proplastics with a combined outturn of 60.18%. VFEX recorded no trades in the session. The three ETFs were active in the session as Old Mutual topped the list on a 11.42% lift to $4.7014. MIZ and Datvest went up 4.00% and 2.96% to settle at respective prices of $1.3000 and $1.4971. Elsewhere, Simbisa released its FY22 results in which revenue jumped 76% to $72.92bn and declared a final dividend of USD$0.0058.