EFE Securities •

2 years ago •

Market Commentary

Market Comment - 31.05.2022

Market upbeat in month-end session... The ZSE remained upbeat in month end session to see four indices under our analysis close in the black. The All-Share Index jumped 7.29% to 23072.46pts while, the Top 10 Index soared 9.35% to 15337.16pts. The Mid-Cap Index rebounded 1.48% to 37634.85pts as the ZSE Agriculture added a marginal 0.07% to finish the session at 120.71pts. Topping the risers list was telecoms giant Econet which ticked up 14.84% to $238.4234 while, fintech group Ecocash Holdings followed on 13.72% upsurge to $111.8443. Delta and Innscor Africa rose 12.44% and 11.18% to end at $389.9924 and $525.5290 respectively. Hotelier African Sun completed the top five gainers on a 8.61% uplift to end at $15.9413. Logistics company Unifreight led the laggards of the day as it dropped 4.29% to $33.5000, trailed by Ariston that declined 2.70% to $3.7976. Zimplow trimmed 0.91% to $19.1111 as clothing retailer Truworths let go 0.74% to $2.0000. Banking group First Capital capped the top five losers on a marginal 0.40% slide to $9.8622. Eighteen counters advanced against nine that lost ground leaving the market with a negative breadth of nine. Activity aggregates improved as turnover ballooned 73.18% to $1.05bn while, volume garnered 94.88% to 5.03m shares. Volume drivers of the day were Axia, Delta, Simbisa, OKZIM and Econet with a shared contribution of 65.05% to the aggregate. Top value drivers of the day were Delta, Innscor, Econet, Simbisa and Axia which accounted for a combined 78.76% of the outturn. Foreigners were net sellers in the session as outflows stood at $28.85m while, inflows amounted to $1.38m. ETFs traded a total of 202,294 units as all the counters closed in the positive territory. Datvest went up 0.18% to $1.9639, Morgan and Co closed 3.07% stronger at $23.9087 while, Old Mutual ETF grew 1.35% to $10.0799.