EFE Securities •

2 years ago •

Market Commentary

Market Comment - 31.12.2021

ZSE retreats as 2021 curtains close... The ZSE retreated in the final session of the year as heavies traded sideways. The All-Share Index and the Industrial Index let go an identical 0.42% to 10822.36pts and 35762.09pts respectively. The ZSE Top Ten Index slipped 0.34% to close at 6811.43pts. Fallers outnumbered gainers by a count of five, leaving the market with a negative breadth. Cigarette manufacturer BAT headlined the winners of the day on a 19.97% jump to $3,201.0000 while, Medtech garnered 16.77% to $35.0000 reversing previous sessions’ losses. Banking group FBC advanced 12.85% to end pegged at $33.8535 as life assurer Fidelity put on 6.42% to $15.7856. Apparel retailer Edgars soared 6.10% to $4.3500, completing the top five risers of the day. NMB was the top casualty of the day on a 19.57% decline to $8.0531 while, Truworths shed 13.04% to $2.0000. TSL went down 6.38% to $70.1714 while, CBZ trimmed 6.06% to $75.1681. Capping the top five shakers of the day was fintech group Cassava that tumbled 5.32% to $40.6530. Volume of shares traded ballooned 648.59% to 16.31m while, turnover rose 31.77% to $231.15m. NMB traded a chunk of circa 15m shares which accounted for 92.17% of the volumes outturn leaving other counters scrambling for the remaining 7.83%. The top value drivers of the day were NMB, Meikles and Econet with respective contributions of 52.40%, 13.04% and 11.05% of the outturn. The Old Mutual ETF was up 0.03% at $4.4009 as 2.22m units exchanged hands. Elsewhere, the market is set to welcome its second ETF; the actively managed Morgan and Company ETF will comprise of Old Mutual Zimbabwe, NMB, FML, First Capital and Zimre holdings.