EFE Securities •
1 year ago •
Market Commentary
Market Comment - 30.09.2022
ZSE falters in month-ending session... The market capped the last session of the month of September in losses as weighty blue chips pressed down the ZSE. The mainstream All Share Index pared 1.11% to 14771.65pts while, the ZSE Top Ten Index stumbled 1.12% to close at 9140.55pts. The Mid Cap Index lurched 1.10% to 29051.67pts while, the ZSE Agriculture Index let go 0.87% to end pegged at 75.28pts. Agriculture concern CFI plunged 14.85% to $357.6120 having traded a low of $357.0000. Bridgefort tumbled 14.44% to settle at $7.7000 post the release of uninspiring HY22 results in which an operating loss of $761.80m was reported. Conglomerate Meikles shed 12.28% to end pegged at $100.0000. Beverages concern Delta trimmed 4.08% to close at a vwap of $248.7391 as apparel retailer Edgars slipped 2.86% to $6.8000. Cement manufacturer Lafarge led the rising tide in week-ending session as it jumped 15.00% to close $98.9000. Trailing was insurer First Mutual that surged 14.83% to $19.7500. Tea company Tanganda put on 6.25% at $85.0000 to close bid at that level. Property concern FMP rose 5.44% to $6.8536 as cigarette manufacturer BAT added 5.42% to $3140.0000. Twenty-nine counters registered price movements in the session as thirteen counters gained against sixteen that lost the ground. Activity aggregates concluded the month in the red as volume of shares traded plummeted 92.47% to 2.82m while, turnover went down 35.36% to $287.01m. Top volume drivers of the day were OKZIM, Econet and Simbisa with respective contributions of 28.91%, 21.02% and 17.54%. Turnover was anchored by Simbisa, Econet, CFI and OKZIM that claimed a shared 74.01%. Cass saddle was the top gainer amongst the ETFs as it swelled 15.00% to $2.0700 followed by Datvest that ticked up 10.51% to $1.9886. Morgan and Co MCS grew 2.30% to $27.6218. The sole faller among the ETFs was Old Mutual that slumped 0.35% to $5.1800. The VFEX recorded no trades in the session. Elsewhere, Unifreight published their HY22 results were they reported a loss after tax of $619.71m and no dividend was declared.