EFE Securities •
1 year ago •
Market Commentary
Market Comment - 29.09.2022
Market in marginal retreat as heavies falter... Market retreated in the penultimate session of the month as three of the major indices we track closed the day in the red. The All-share Index declined 0.58% to 14937.06pts while, the Blue-chip Index was 0.64% weaker at 9244.10pts weighed down mainly by Ecocash and Simbisa. The Mid-cap Index shed 0.42% to 29374.00pts while, on the contrary the Agriculture Index gained 3.37% to 75.93pts. Zimre Holdings led the laggards of the day as it dropped 12.90% to $5.0095, trailed by digital media group Zimpapers that lost 11.76% to $3.0000 post the release of its HY22 results in which it reported a PAT of $67.43m. Fintech group Ecocash Holdings eased 7.72% to $55.4730 while, Simbisa closed at $159.2311 on a 6.52% drop. Bankers CBZ capped the top five losers of the day as it succumbed 5.08% to $140.0000. Apparel retailer Truworths headlined the top five gainers of the day as it jumped 13.04% to $2.6000, followed by Masimba Holdings that added 12.87% to $64.9025. Logistics group Unifreight advanced 11.79% to $48.0700 while, brick manufacturer Willdale was 11.11% up to end at $2.0000. Millers National Foods fastened the top five best performers of the day as it eked 8.99% to $1,200.0000. Activity aggregates traded mixed in the session as turnover dipped 0.26% to $440.02m while, volumes traded ballooned 423.49% to see 37.49m shares exchange hands. General Beltings led the volume leaders of the day as it claimed 89.83% of the total shares traded. Econet, General Beltings, Delta and Simbisa led the value contributors of the day with respective contributions of 21.50%, 16.78%, 14.47% and 13.05%. The ZSE ETF declined 1.79% to 386.8719 pts, pulled down by Morgan & CO MCS and Old Mutual Top Ten that lost 5.26% and 0.45% in that order. On the VFEX, Nickel miner Bindura edged up 0.33% to US$0.0306 while, Padenga was stable at US$0.3600. A total of 171,023 shares worth US$5,798.2248 traded in the session. Elsewhere, Axia released FY22 results in which it reported a PAT of $4.60bn in inflation adjusted terms.