EFE Securities •

1 year ago •

Market Commentary

Market Comment - 27.09.2022

Market soars... The ZSE continued to soar in Tuesday’s session registering a positive market breadth of twenty-four as twenty-seven counters advanced against three that faltered. The primary All-Share Index moved up 9.87% to end at 13825.66pts while, the ZSE Top 10 Index extended 12.50% to 8342.15pts. The Mid-cap Index inched up 4.49% to 28814.98pts as the ZSE Agriculture Index added 5.60% to close pegged at 72.60pts. Leading the top five gainers of the day was a trio of Masimba Holdings, Truworths and BAT which rose with a similar gain of 15.00% to finish at $57.5000, $2.3000, and $2,737.5500 respectively. Conglomerate Innscor and beverages giant Delta surged an identical 14.99% to end pegged at $269.2500 and $223.6500 apiece. Insurer First Mutual Holdings led the laggards of the day on a 12.86% drop to $16.5571 followed by Zimre Holdings that went down 8.71% to $5.0210. National Foods completed the losers’ set on a marginal loss of 0.02% to settle at $1,095.1288. Activity aggregates were enhanced as turnover improved 184.87% to $100.87m while, volumes traded advanced 112.20% to 3.65m. Zimre holdings was the major volume driver of the day constituting 65.47% of the aggregate leaving other counters scrambling for the remainder of 34.53%. Value leaders were National Foods (46.56%), Zimre holdings (11.95%), Innscor (11.23%), OKZIM (10.81%) and Meikles (4.90%). VFEX recorded no trades in the session. A total of 191,627 units traded with Cass Saddle ETF being the only faller after letting go 10.00% to $1.8000. Old Mutual added 10.46% to $5.1932, MIZ ETF grew 2.77% to $28.5000 and Datvest put on 1.06% to $1.5130. Elsewhere, Padenga Holdings Limited released its HY22 results in which revenue jumped 184% to USD$56.87m while, its PAT rose by 199% to USD$11.27m and no dividend was declared.