EFE Securities •

2 years ago •

Market Commentary

Market Comment - 29.06.2022

ZSE retreats further... The market continued to falter in the penultimate session of the month as four benchmark indices that we review closed pointing southwards. The mainstream All Share Index let go 2.72% to close at 20591.06pts as the Blue-chips Index slipped 3.12% to 12880.61pts. The ZSE Agriculture Index declined 1.49% to 117.99pts as the Mid Cap Index lost 1.75%to 396327.35pts. Truworths was the worst performer of the day after dropping 15.00% to end at $1.8700 trailed by Dairibord that plunged 14.95% to $41.7500. Zimplow was down 14.87% to $21.0000 as it reversed previous session’s gains. Agriculture concern Ariston shed 10.24% to close at $3.5000 as Zimpapers completed the top five fallers’ pack on a 9.09% retreat at $5.0000. On the upside was Turnall that jumped 12.04% to $5.1200. Financial services group ZB garnered 8.45% to $77.0000 while, hotelier RTG put on 5.00% to $10.5000. Property concern FMP improved 3.40% to $11.7000 while, Zimre Holdings capped the top five winners pack on a 0.21% rise to $5.4485. Fallers of the day outnumbered gainers by a count of fifteen leaving the market with a negative breadth. Volume of shares traded dipped 65.59% to 2.12m as Ecocash, General Beltings, OKZIM, Econet and Delta claimed a combined 69.46% of the aggregate. Turnover plummeted 67.63% to $252.02m as Delta, Econet, Innscor, Ecocash and Simbisa contributed a shared 84.46%. Padenga went up 3.45% to USD$0.2700 as 3200 shares worth $864.0000 exchanged hands. Three of the four ETFs on the bourse closed in the black with Old Mutual ETF, Datvest and MIZ adding 4.26%, 4.07% and 0.88% to settle at $9.8676, $1.9989 and $1.2610 respectively . The Morgan and Co multi sector declined 4.66% to end pegged at $26.9329.