EFE Securities •
2 years ago •
Market Commentary
Market Comment - 27.05.2022
Market ends week in the black... The market capped the week in gains as four benchmark indices in our review ended pointing northwards. The mainstream All Share Index gained 0.51% to 20933.98pts while, the Blue-Chips Index ticked up 0.66% to 13454.99pts. The ZSE Agriculture Index edged up 2.49% to 127.46pts while, the Mid Cap Index climbed 0.15% to 37591.39pts. First Mutual Holdings Limited held the first position of the gainers’ pack after surging 15.00% to settle at $18.4000. Retailer OKZIM followed on a 7.00% lift to $40.0018 while, property concern FMP advanced 4.85% to close at $6.5009. Banking group NMB was up 3.44% at $30.0000 as beverages group Delta rose 2.90% to $319.6905 post the declaration of its FY22 dividend. Leading the laggards of the day was Mashonaland Holdings which declined 14.01% to $4.0632 as it reversed prior sessions’ gains. Cement manufacturer Lafarge tumbled 9.09% to $150.0000 following the release of its Q1,2022 trading update in which volumes and revenue were down 55% and 18% respectively. Apparel retailer Edgars trimmed 5.55% to $4.1563 despite recording a volumes growth of 81% in its Q1 update. Star Africa let go 4.93% to end pegged at $1.7634 while, General Belting capped the top five losers of the day on a 2.51% loss to $1.4113. Twenty-six counters registered price movements on the bourse distributed into ten risers and sixteen fallers, leaving the market with negative breadth of six. Activity aggregates were depressed in Friday’s session as volumes dropped 25.81% to 2.99m shares while, turnover dipped 39.31% to $481.84m. The trio of Econet, Meikles and Simbisa led the volume and value aggregates of the day as they claimed a combined 68.75% of the former and 79.60% of the latter. Padenga added 1.82% to $0.2235 as 1,623 shares worth USD$362.7405 exchanged hands. Datvest ETF slipped 2.85% to $1.9596 while, Morgan and Co shed 0.02% to $24.0000. Contrastingly, the Old Mutual ETF improved 2.52% to trade at $9.7282.