Market Comment - 03.02.2022

Tanganda leads the way on debut... The ZSE welcomed Meikles-spin off Tanganda Tea Company post its demerger last year. The tea company headlined the risers of the day having traded an intra-day high of $75.0000 and closing at $67.0601. National Tyre Services followed on a 20% rise to $6.7200 as Zimre Holdings Limited grew 6.91% to end pegged $3.4215. Banking group NMB Bank went up 5.88% to $13.0000 while, First Capital Bank completed the top five winners on a 4.62% uplift to $3.5000. First Mutual Properties led the laggards of the day after retreating 8.15% to close at $6.2000 while, retailer OK Zimbabwe eased 7.32% to $25.0052. General Beltings shed 4.03% to $1.8042 as hotelier African Sun dropped 3.95% to settle at $6.9978. Food processor National Foods capped the fallers’ pack after slipping 3.33% to $1,305.0000. Seventeen counters registered gains against fourteen fallers to record a positive market breadth of three. The primary All Share Index put on 0.38% to 12304.52 while, the Top Ten Index advanced 0.71% to 8045.88pts. The Industrial Index added 0.38% to finish at 40677.73pts while, the Mid-cap Index continued to falter as it shed 0.66% to 20975.49pts. Activity aggregates were mixed in the session as volume of shares traded dipped 20.84% to 3.84m while, turnover jumped 86.39% to $387.18m. Tanganda, Econet, OKZIM, Delta and Innscor claimed a combined 79.5% of the volume aggregate. Anchoring the value outturn of the day were Delta (25.52%), Innscor (24.35%), Tanganda (17.54%), Econet (14.58%) and Simbisa (9.99%). Local purchases accounted for 99.97% of the turnover while, sales claimed 89.99% of the same. The Morgan and Co ETF put on 0.71% to end at $13.7335 while, the Old Mutual ETF slid 2.11% to $6.7902. The VFEX recorded no trades in the session.