EFE Securities •
2 years ago •
Market Commentary
Market Comment - 30.06.2022
Blood bath on ZSE as heavies falter ... The blood bath persisted on the bourse as curtains came down on the month of June. Twenty-two bears weighed on eight bulls to see the market close with a negative breadth of fourteen. The All-Share Index plunged 3.88% to 19791.94pts while, the Blue-Chip Index lost a further 4.71% to close at 12273.75pts. The Agricultural Index fell 4.08% to 113.18pts while, the Mid-Cap Index dropped 1.94% to 38857.16pts. BAT was the worst performer of the day as it eased 15.00% to trade at $2975.0000, trailed by Proplastics that shed 14.82% to settle at $50.6381. Milk processor Dairibord extended its losses for the third consecutive session as it trimmed 14.48% to close at $35.7045 while, Ariston plummeted 12.50% to $3.0625. Hotelier African Sun was 12.30% weaker at $12.6977 to cap the top five fallers of the day. Apparel retailer Edgars headlined the winners of the day as it garnered 14.90% to settle at $5.8600, followed by bankers ZB that closed at $88.0000 after a 14.29% rise. Logistics group Unifreight edged up 8.55% to close at $33.0000 while, General Beltings advanced 7.69% to $1.4000. Banking group FBC added 7.14% to $75.0000 as it completed the top five gainers of the day. Activity aggregates improved as reflected in volumes that ballooned 3931.68% to 84.43m while, turnover jumped 139.51% to $603.60m. Roofing material supplier Turnall was the top traded counter by volume and value in the session as it claimed 89.78% of the former and 58.11% of the latter. Conglomerate Innscor also contributed 12.46% to the value traded. On the VFEX, Padenga was 1.11% up to close at US$0.2730 as 260,819 shares traded. The ETFs traded mixed in the session as Datvest and Old Mutual Top 10 ETF slipped 0.84% and 1.03% respectively. Morgan & Co Made in Zimbabwe and Multi Sector put on 0.81% and 0.01% apiece. Elsewhere, Nickel miner Bindura released its FY21 results in which a PAT of US$8.06m was reported and no dividend was declared. CFI also released its HY22 results in which a loss of ZWL$36.59m was reported.