EFE Securities •
2 years ago •
Market Commentary
Market Comment - 28.10.2022
Delta sparkles in Friday's session... Beverages group was the top traded counter by volume and value claiming 62.62% of the former and 80.04% of the latter after 729,000 shares worth $170.76m were swapped. Activity aggregates were mixed in the penultimate session of the month as reflected in volumes that tumbled 31.23% to $1.16m and turnover which enhanced 43.48% to $213.46m. Axia was the best performer of the day after hopping 13.02% to settle at $80.2308. Trailing was ART that soared 12.96% to end pegged at $17.0000 on 200 shares. Mashonaland holdings edged up 6.19% to $8.0000 while, telecoms giant Econet skipped 1.66% to $86.4112 having traded an intraday high of $90.0000. Conglomerate Innscor was 1.58% stronger at $325.0418 to cap the top five winners of the day. A total of nineteen counters registered price movements, distributed into ten gainers and nine fallers to leave the market with a positive breadth of one. The primary All Share Index put on 0.64% to 14933.47pts while, the Blue Chips Index was up 0.41% to 8810.56pts. The Mid-Cap Index was the top riser amongst the indices as it gained 1.19% to 32839.64pts. Conversely, the ZSE Agriculture Index dropped 0.20% to end at 76.44pts. On the ETF front, MIZ improved 13.21% to $1.2000 while, the Old Mutual ETF firmed up 1.17% to $5.4892. Datvest MCS trimmed 0.05% to $1.7429. Cumulatively, 72,125 units worth $297,609.70 exchanged hands in three ETFs. On the VFEX, SeedCo International dipped 7.99% to end pegged at USD$0.3500 while, Padenga shed 0.32% to close at USD$0.2492. Bindura traded 106,731 shares at an unchanged price of USD$0.0300. A total of 1.13m shares valued at USD$339,698.1740 were traded on the VFEX. Elsewhere, Tigere Real Estate Investment Trust is set to be listed on the ZSE on the 23rd of November at an initial offer price of $28 and will be the first REIT to be listed in the Zimbabwe capital markets. Cement manufacturer Lafarge released an unimpressive set of half year results in which revenue declined by 23% to $6.56bn and a loss after tax of $3.86bn was reported.