EFE Securities •

2 years ago •

Market Commentary

Market Comment - 29.12.2021

ZSE rising impetus remains... The rising impetus remained on the bourse with only two trading sessions to spare. The ZSE Top Ten was the top gainer amongst the indices with a 5.91% upsurge to 6646.12pts while, the old Industrials trailed on a 4.80% gain to close at 35033.87pts. The mainstream All Share Index firmed 4.75% to end at 10604.19pts. Headlining the risers of the day was Fintech group Cassava which garnered 14.88% to $39.6140, followed by OKZIM that added a further 11.87% to settle at $28.1503. Beverages group Delta went up 10.45% to $161.6959, having traded an intraday high of $170.0000. Turnall improved 10.19% to $4.3000 as Axia completed the top five winners of the day on a 9.65% rise to $30.0719. Zimplow topped the losers of the day on a 3.90% decline to $23.0403 while, Star Africa retreated 2.80% to end pegged at $1.2354. Banking group First Capital let go 3.4537% to trade at $3.4537 as Ariston shed 1.61% to settle at $3.6596. Property concern First Mutual Properties capped the top five shakers of the day after a 0.46% loss to $7.7640. A total of thirty counters registered price movements in the session distributed into twenty-three gainers and seven losers, leaving the market with a strong positive breadth of sixteen. Volumes traded jumped 242.47% to 6.44m shares while, value outturn ballooned 254.98% to $332.35m. Econet highlighted the midweek trades as circa 2.70m shares worth $229.59m exchanged hands in the counter, accounting for 41.94% of total volumes and 69.16% of the value outturn. Another noteworthy value driver was Delta that claimed 10.23% of turnover. The Old Mutual ETF slipped 0.26% to $4.3987 having traded an intra-day high of $5.0000. No trades were recorded in all four stocks on the VFEX.