EFE Securities •
2 years ago •
Market Commentary
Market Comment - 31.10.2022
Thin trades in month-ending session... The market was plunged into thin trades in the month-ending session as the mainstream All Share Index put on 0.93% to 15072.14pts as it breezed past the 15000pts mark. The ZSE Top Ten Index added 0.77% to 8878.08pts while, the Mid Cap Index went up 1.27% to 33256.19pts. The Agriculture Index was the only faller amongst the indices after retreating a marginal 0.01% to 76.44pts. Hotelier African Sun headlined the winners’ pack on a 13.04% surge to close at $26.0000. Life assurer Fidelity followed on a 9.09% uplift to $24.0000 as banking institution FBC rose 8.00% to end pegged at $54.0000. Star Africa improved 2.73% to $1.8500 while, beverages group Delta completed the top five gainers of the day on a 2.46% advance to $240.0001 having traded an intraday high of $250.0000. Holding back today’s gains were losses in Mashonaland Holdings that dipped 5.86% to $7.5313 trailed by Meikles which shed 2.30% to $100.3094 having traded a low of $100.0000 in the session. Apparel retailer Edgars retreated 1.32% to $7.5000 while, First Capital slipped 0.29% to $9.3186. Fintech group Ecocash trimmed 0.27% to settle at $43.9800 as it capped the top five decliners of the day. Volume of shares traded tumbled 46.22% to 626,413 shares as the market spend dropped 39.06% to $130.08m. Delta and Innscor were the top traded counters by volume and value as they claimed a shared 63% of the former and 80.45% of the latter. National Foods was the other notable value driver with a 13.31% contribution as the conglomerate released a cautionary statement announcing of its intention to delist from the ZSE and subsequent listing on the VFEX. On the ETFs, three ETFs recorded gains against two that faltered. Cass Saddle, Morgan, and Co MCS and Datvest ETFs added 3.11%, 6.68% and 0.14% apiece. MIZ and Old Mutual slid 8.08% and 1.38% respectively. Padenga declined 0.28% to USD$0.2485 on 360,000 shares while, Bindura edged up 1.67% to USD$0.0305 on 305 shares.