EFE Securities •

2 years ago •

Market Commentary

Market Comment - 28.03.2022

Heavies edge the market lower ... The market commenced the last trading week of the month and first quarter in losses as selected heavies dragged down the market. The ZSE All Share Index and Industrials declined a similar 0.05% to close at 15574.66pts and 51464.52pts apiece. The Blue Chips Index retreated 0.27% to end at 10268.61pts. The Mid -cap Index was the only gainer among the indices with a 0.79% leap to settle at 25896.30pts. National Foods headlined the decliners of the day on a 10.29% dip to trade at $1,700.0000 trailed by FMP that shed 7.03% to $9.0000. Mashonaland holdings trimmed 4.55% to $2.8971 on 45,400 shares. Tanganda slipped 3.04% to $93.0263 having traded an intraday low of $93.0000 while, banking group First Capital lost 2.49% to close at $3.8052. Partially mitigating today’s losses were gains in Proplastics that jumped 16.45% to $44.0000. Packaging group Nampak followed on a 11.92% uplift to $14.5500, as Zimpapers put on 10.68% to $3.3204. Banking group CBZ improved 10.56% to $94.0000 as a scanty 400 shares exchanged hands. African Sun reinforced previous session’s gains as the hotelier added 5.09% to $8.4594. Volumes and values were mixed in the session as the former grew 15.49% to 4.26m shares while, the latter fell 4.90% to $171.78m. NMB and ART anchored the volume aggregate of the day on respective contributions of 49.55% and 13.42%. Top value drivers of the day were Delta, Econet, NMB and Innscor which accounted for a shared 67.14% of the outturn. Bindura advanced 16.73% to settle at $0.0600 while, SeedCo International went up 0.18% to $0.2805. A total of 361,031 shares traded on the VFEX with Bindura claiming the lion’s share. The Old Mutual ETF pared 10.93% to $8.8650 post the announcement of a second dividend which is based on 150,130 Tanganda shares received by the fund following the Meikles demerger. Datvest and Morgan ETFs advanced 2.06% and 1.37% to end at respective prices of $1.7921 and $14.3078.