EFE Securities •
2 years ago •
Market Commentary
Market Comment - 27.06.2022
ZSE bounces back in Monday''s session... The market recovered in the week opening session post a nine-day falling streak. The mainstream All Share Index put on 0.99% to 21282.53pts while, the ZSE Top Ten Index rose 0.75% to 13277.37pts. The Agriculture Index added 0.82% to close at 121.25pts as the Mid Cap Index improved 1.57% to end at 41264.66pts. CBZ led the market surge for the second consecutive session on a 14.65% jump to $163.9449 while, Turnall garnered 13.89% to $4.5700. Agriculture concern CFI soared 12.12% to settle at $370.0000. Axia ticked up 10.39% to close at $132.4121 as Zimre Holdings capped the top five winners of the day on a 9.21% lift to $5.4607. Leading the decliners of the day was hotelier African Sun that dipped 9.88% to $18.0078. Trailing was property concern FMP that succumbed 2.55% to $11.6500. Tea company Tanganda let go 0.41% to $228.0000 as fast foods group Simbisa shed 0.13% to $216.6805. Apparel retailer Truworths completed the top five shakers of the day on a 0.12% retreat to $2.2000. Activity aggregates enhanced in Monday’s session as volumes traded ballooned 1855.58% to 87.97m while, turnover grew 34.24% to $907.65m. Turnall was the top volume and value driver of the day with respective contributions of 95.27% and 42.22%. Other notable value drivers were Delta, Innscor, OKZIM and Simbisa with a combined contribution of 46.42%. The top riser amongst the ETFs was Morgan and Co MIZ that advanced 4.59% to $1.2373, followed by Old Mutual ETF which was 1.55% firmer at $10.4806. Morgan and Co Multisector added 0.03% to $27.7707. The sole faller amongst the ETFs was Datvest ETF which slumped 0.24% to $1.9953. Elsewhere, the MOF announced that the multi-currency system will continue till 2025. The use of both currencies shall be entrenched in law in order to boost confidence in different sectors of the economy. The Monetary Policy Committee also announced results of their meeting, with the major highlight being the increase in bank policy rate to 200% from 80% in a bid to inspire positive interest rates.