Market Comment - 02.12.2022

ZSE ends week in marginal gains ... The primary All Share Index rose 0.16% to close at 14834.46 pts while, the ZSE Top Ten gained 0.80% to 8672.55 pts. The ZSE Agriculture Index declined 0.17 % to 72.49 pts as the Mid Cap Index also declined 0.95 % to 32287.86pts. Headlining the winners of the day was First Mutual Holdings that enhanced 4.35% to settle at $24.0000 trailed by CBZ Bank that went up 2.44% to $128. 0475.Retailer OK Zimbabwe swelled 1.70% to $28.6460 as beverages group Delta extended 1.33% to $244.2186 having traded an intra day high of $248.5500. Ecocash Holdings held the fifth position of the gainers’ table after climbing 1.18% to $35.9699. On the flip side, construction group Masimba tripped 6.67% to trade at $70.0000. Following was First Capital Bank that tumbled 5.21% to $9.7853 as property-concern MASH let go 4.24% to $21.0984. Financial service group ZB shed 0.83% to $113.95 while, Zimre retreated 0.27% to $4.4379. The market registered a positive market breadth as fourteen gainers outnumbered fallers by a count of seven. Activity aggregates were depressed in the session as volumes declined 97.59 % to 1.58 m shares while, turnover dipped 99.20% to $ 155.54mn. Top volume drivers of the day were Delta, OKZIM, First Mutual and Ecocash that claimed a combined 63.95% of the aggregate. Anchoring the value outturn of the day were Delta, Innscor, Econet and OKZ which accounted for 52.50%, 23.95%, 4.76% and 4.67% apiece. There were no trades on the VFEX bourse for the second consecutive session. The ETFs gainers and fallers’ spectrum were equally distributed at two apiece. The Old Mutual ETF was the top riser among its kind after advancing 2.25% to $5.7132 followed by Morgan Co& MCS rose 0.41% to $21.0870. Cass Saddle trimmed 9.38% to $1.8125 as Datvest MCS slipped 1.47% to $1.6730. Elsewhere, Lafarge has withdrawn its cautionary following the finalisation of the purchase of the 76.45% stake by Fossil Mines .