Market Comment - 01.09.2022

ZSE recovers in month opener... The market opened the new month of September with marginal gains being recorded among the four indices we review. The All-Share Index was 0.31% firmer to close at 13747.45pts while, the Blue-chip Index rose 0.26% to 8230.73pts buoyed by gains in CBZ. The Mid Cap Index was up 0.42% to 29149.75pts while, the Agricultural Index was the least gainer amongst its kind as it gained a meagre 0.01% to 75.78pts. Bankers First Capital headlined the gainers of the day as it surged 14.93% to $8.6200 trailed by agricultural concern Ariston that advanced 12.61% to $2.7000. CBZ bank reversed prior sessions losses as it jumped 11.92% to $152.6812 while, GBH edged up 4.14% to $1.6142 following announcement of minority offer to shareholders at $2.2100 by Jemaimah Synergies (Pvt) Ltd. Willdale capped the top five best performers of the day on a 2.56% improvement to $2.0000. Ecocash holdings led the laggards of the day as it fell 7.75% to $33.0621 followed by property concern First Mutual Properties that dropped 5.33% to $5.68000. Proplastics ended the session pegged at $21.4000 following a 1.83% loss. Spirit and wines manufacturer Afdis eased 1.59% to $310.000 as Nampak closed the top five worst performers of the day on a 1.32% decline to $9.5000. Activity aggregates were depressed in the session as turnover succumbed 63.76% to $124.91m while, volumes traded plunged 71.23% to see 1.92m shares exchanged hands. Delta and SeedCo were the top value leaders of the day as the duo claimed a combined 52.07% of turnover. Dairibord, Ecocash, SeedCo and Delta contributed 24.09%, 15.61%, 13.17% and 11.14% of the volumes aggregate respectively. On the VFEX, SeedCo traded scrappy 368 shares worth US$147.2000. The ETFs traded mixed in the session as the Old Mutual-Top 10 and the Morgan & Co ETFs rose 0.97% and 1.63% respectively. Datvest MCS was the only loser among its kind as it lost 1.55% while, the Cass Saddle Agricultural ETF recorded no trades and the Morgan and MCS was stable at $26.5000.