EFE Securities •

1 year ago •

Market Commentary

Market Comment - 28.09.2022

ZSE extends gains... The ZSE extended gains in the mid-week session as the primary All Share Index surged 8.67% to 15023.86pts while, the Top Ten Index advanced 11.52% to 9303.36pts. The Mid Cap Index rose 2.37% to 29499.17pts as the ZSE-Agriculture Index ticked up 1.19% to 73.46pts. Logistics company Unifreight headlined the gainers’ list on a 14.97% rise to $43.0000, trailed by Innscor which went up 14.90% to $309.3762. Ecocash Holdings jumped 14.83% to $60.1154 while, telecoms giant Econet advanced 14.67% to $118.4534. Beverages group Delta capped the top five winners of the session after adding 14.55% to $256.2002. Leading the losers of the day was bankers NMBZ that slumped 10.00% to $18.0009. Milk processor Dairibord retreated 9.07% to $22.1880 while, clothing retailers Edgars gave up 4.76% to trade at $7.0000. Mashonaland Holdings lost 3.37% to end pegged at $6.6000, trailed by Meikles Limited which capped the top five losers’ list of the day on a 2.98% decline to end the session at $114.9565. The market closed with a positive breadth of twelve after nineteen counters gained ground against seven losers. Activity aggregates advanced in the session as value traded grew by 341.34% to $445.17m while, volumes edged up 96.10% to 7.16m shares. Proplastics, NMB and Econet dominated the volume traded after contributing 41.91%, 15.75% and 12.95% accordingly. Delta, Econet, Proplastics and Simbisa contributed a combined 75.13% to the total outturn. The Datvest and Old Mutual ETF were the only ETF’S to register price movements today as the duo gained 6.06% and 0.32% to close the day at respective prices of $1.6047 and $5.2099. On the VFEX, Bindura slipped 0.65% to end pegged at $0.0305. Elsewhere, VFEX will welcome its fifth listing Simbisa, which will delist from the ZSE.