EFE Securities •
1 year ago •
Market Commentary
Market Comment - 30.12.2022
ZSE closes the year 80.13% higher... Gains in the blue-chip counters buoyed the market in last session of 2022 to see the ZSE Top Ten Index jump 6.79% to close at 12311. 13pts.The mainstream All Share Index advanced 5.89% to close the year with YTD gains of 80.13%. The ZSE Agriculture and the Mid-Cap Indices went up by a similar 3.26% to land at 73.84pts and 36642.43pts apiece. Zimre Holdings headlined the winners pack after the group garnered 30.60% to settle at $5.2500 in a negotiated deal that saw 9.06% of the company total stake exchange hands. Agriculture concern CFI surged 15.00% to $411.7000 having traded a measly 100 shares. Banking group First Capital put on 14.66% to close at its YTD peak price of $15.7500. Econet extended 14.42% to end at a vwap of $96.2759 having traded an intraday high of $96. 7500.Conglomerate Innscor continued its rising tide as the group ticked up 14.18% to $713.6672. Mashonaland Holdings led the three fallers of the day on a 3.55% dip to $9.2477 followed by Zimplow that let go 0.29% to $17.0000. Beverages concern Delta capped the decliners of the day on a 0.02% loss to $359.7727. Volumes ballooned 2395.75% to 176.94m to yield a turnover of $1.48bn which was a 224.27% improvement from prior session. Zimre Holdings anchored the activity aggregates of the day as circa 166.03m shares worth $871.68m sold by a foreign seller. The trade accounted for 95.13% of total shares traded and 62.95% of the value outturn. Other notable value drivers of the day were OKZIM (13.07%), Innscor (8.84%) and Delta (5.31%). On the VFEX, the duo of Padenga and Simbisa recorded positive price movements with the former adding 0.53% while, the latter grew 9.78%. Bindura and SeedCO International were stable at USD$0.0230 and USD$0.2995 respectively.The ETFs traded mixed as the Datvest ETF trimmed 2.18% while, the Old Mutual ETF rose 1.62%. The Morgan and Co MCMS and the Cass Saddle were unchanged at their previous prices. The Tigere REIT shed 4.69% to $40.9835 on 2.41m units worth $98.65m.