EFE Securities •

1 year ago •

Company Papers

Market Comment - 29.08.2022

ZSE retreats in the new week... The market commenced the new week in losses as selected heavies weighed down the ZSE. The All-Share Index trimmed 0.68% to 13974.84pts while, ZSE Top Ten Index slipped 0.73% to 8408.55pts. The ZSE Agriculture Index went down 2.01% to 76.81pts while, the Mid Cap Index shed 0.60% to 29312.16pts. BridgeFort Capital led the decliners of the day on a 15.00% dip to $10.2000 followed by Hippo that succumbed 14.30% to $208.2500 post the release of FY22 results in which profit for the period was 38% up to $4.09bn .Apparel retailer Edgars plunged 13.54% to $6.5926 as Mashonaland Holdings tripped 12.32% to settle at $4.3839. Packaging group Nampak capped the top five fallers’ list as it tumbled 8.32% to $9.6268. The winning pack was headlined by Ariston that jumped 8.51% to $2.2787, trailed by brick manufacturers Willdale that put on 8.07% to $1.9938. Banking group CBZ improved 4.43% to $150.0000 as retailer OKZIM rose 0.92% to $32.0000. Conglomerate Innscor added 0.81% to $273.3323 as it completed the top five risers of the day. Activity aggregates were depressed in Monday’s session as reflected in volumes that dropped 15.06% to 3.16m while, turnover stumbled 49.39% to $134.27m. Volume drivers of the day were First Capital and OKZIM that claimed 42.62% and 26.72% respectively. Value leaders of the day were OKZIM, Innscor, Delta and Econet that contributed a combined 65.62%. Foreign sales amounted to $24,148,090.00 while, purchases stood at $176,000.00, to record a net funds outflow position. Bindura highlighted the VFX as it traded 1.50m shares and worth USD$43,502.51 at the stable price of $0.0310 . On the ETF market, Datvest MCS and Morgan and Co MIZ slipped 1.38% and 1.24% to close at $1.5858 and $1.2111 apiece. The Old Mutual ETF was the sole riser with a 1.68% uplift to $5.2300.