EFE Securities •

2 years ago •

Market Commentary

Market Comment - 30.08.2022

ZSE weakens further in penultimate session... The ZSE extended the losing streak into the penultimate session of the month. The mainstream All Share Index shed 1.03% to 13830.34pts while, the ZSE Top Ten Index dropped 0.91% to 8331.69pts. The ZSE Agriculture Index slipped 0.85% to 76.16pts as the Mid-Cap was 1.35% weaker at 28917.19pts. Leading the laggards of the day was ART that succumbed 15% to $14.4500. First Properties followed on a 13.98% fall to $6.1000 while, bankers ZB eased 11.96% to $70.4348. Dairy processors Dairiboard declined 10.20% to $22.0000 as brick manufacturers Willdale shed 9.58% to cap the top five shakers of the day at $1.8027. Property firm Mashonaland Holdings topped the gainers’ list as it rose 14.14% to $5.0039, trailed by Ariston Holdings which went up 4.88% to $2.3900. Hotelier Meikles ticked up 4.83% to $100.0000 as plastic manufacturers Proplastics added 1.96% to $21.6672. Insurer First Mutual Holdings inched up 0.84% to $19.0000 to complete the top five winners’ set. The market registered a negative breadth of eleven as twenty-one counters faltered against ten that gained. Activity aggregates improved as turnover soared 88.04% to $252.46m while, volume of shares traded jumped 19.56% to 3.78m. Mashonaland Holdings, Econet Wireless and OK Zimbabwe were the volume leaders of the day with a combined 66.89% of the total. The day’s value leaders in their order were Econet (33.57%), Simbisa (21.21%), Innscor (15.73%), Tanganda Tea (7.08%) and Delta (6.49%). On the VFEX market, Bindura Nickel was flat at USD$0.0310 on 233,692 shares while, Padenga was stable at USD$0.3400 on 767 shares. A total of 2.36m ETF units worth $11.41m exchanged hands. Morgan and Co MIZ went up 0.73% to $1.2200 while, Old Mutual, Datvest and Morgan and Co MCS declined 6.19%, 5.14% and 2.00% in that order.