EFE Securities •

1 year ago •

Market Commentary

Market Comment - 28.12.2022

ZSE surges in new trading week... The market continued to surge in the holiday shortened week as the primary All share Index jumped 5.60% to 18322.47pts. The Blue-Chips Index soared 7.18% to end at 11473.71pts while, the Agriculture Index remained constant at 71.42pts. The Mid-Cap Index added 1.99% to close the day at 35480.16pts. Hoteliers RTG led the gainers pack on a 14.90% jump to $8.8700 followed by clothing retailers Edgars that garnered 11.80% to settle at $9.0000. Telecoms giant Econet advanced 11.77% to $89.6419 while, Axia rose 9.76% to $114.3478. Conglomerate Innscor capped the top five winners of the day after an 8.21% uplift to end at $561.7431. Two counters recorded losses in the midweek session as Mashonaland Holdings headlined the duet on a 14.09% drop to $10.9531. Cigarette manufacturer BAT slipped a negligible 0.02% to close at $2799.3333. Activity aggregates were depressed in the session as turnover dipped 78.37% to $261.60m while, volume eased 98.60% to 1.29m shares. Delta held the lion’s share of the volume and value aggregates claiming 77.61% of the former and 94.91% of the latter. Other notable volume drivers of the day were Willdale, OKZIM and Proplastics that accounted for a combined 15.61% of the aggregate. On the ETFs: the Datvest ETF went up 0.63% to $1.6100 while, the Old Mutual ETF let go 3.89% to $6.5080. A total of 6,660 units worth $30,218.50 exchanged hands in the two ETFs. The Tigere REIT was stable at $38.0000 as 445,875 units worth $16.94m traded in the session. Padenga was the only counter to trade on the VFEX as 7,458 shares traded at an unchanged price of USD$0.2280.