Market Comment- 01.03.2022

ZSE commences new month in marginal gains... The market commenced the month of March in marginal gains as witnessed by the primary All-Share Index that gained 0.58% to close at 15077.20pts. The Top Ten Index was 1.06% firmer at 10058.56pts as gains in heavies Innscor, Simbisa and Econet propelled the market with the Industrials adding 0.58% to close at 49561.26pts. The Mid-Cap Index was the only faller amongst the indices in our review as it dropped 0.84% to end at 24631.37pts. Conglomerate Innscor topped the gainers set of the day after surging 6.49% to settle at $285.3958, trailed by Zimplow that went up 3.61% to $20.7250. Fast-foods retailer Simbisa grew 3.50% to settle at $182.3976 while, National Tyre Services put on 3.17% to $8.4000. Retailer OK Zimbabwe inched up 2.03% to end at $31.8041. The market registered a negative breadth of two as nineteen stocks gained against twenty-two that lost ground. First Mutual Properties was the worst faller on a 7.70% fall to $6.4188, followed by insurer First Mutual Holdings which shed 4.76% to $20.0000. SeedCo Limited succumbed 4.36% to $194.9981 while, Turnall Holdings lost 3.77% to end at $5.1000. Completing the top five fallers was Ariston which let go 3.42% to $3.5000 on waning demand. Activity aggregates improved as the volume traded rose 20.98% to 1.6m shares while, turnover advanced 82.73% to $173.73m. Top value drivers were Delta (30.61%), Econet (11.48%), Innscor (13.98%), Tanganda (9.49%) and BAT (9.37%) in that respective order. The notable volume drivers were OKZIM (22.21%), Delta (14.61%) and Tanganda (13.98%). On the VFEX, Padenga traded 3,949 shares worth USD$829.29 and closed at USD$0.21000. The Morgan and Co ETF added a marginal 0.40% to $14.5120 on 62,986 units while, Old Mutual ETF dropped 2.58% to $10.3960 as 212,210 exchanged hands.