Market Comment - 03.03.2022

ZSE slips as Datvest ETF lists... The market slipped into the negative in Thursday session as the primary All-Share Index lost 0.11% to close the day at 15087.00pts while, the Industrials let go an identical 0.11% to 49881.91pts. The Top Ten Index trimmed 0.13% to end at 10070.95pts while, the Mid-Cap Index retreated 0.09% to finish at 24339.78pts. The market registered a negative breadth of four as eighteen stocks faltered against fourteen losers. Rainbow Tourism Group led the laggards of the day on a 15.36% dip to $6.0944, trailed by banking group ZB that succumbed 6.35% to $60.8250. Zimre Holdings shed 4.01% to $3.819 while, plastics manufacturer Proplastics dropped 3.57% to end at $27.0000. Capping the top five losers pack was Nampak that declined 2.60% to $13.3800. Hotelier African Sun topped the gainers’ list after surging 13.15% to close at $9.0000, followed by First Mutual Properties that added 7.81% to $7.0000. Spirits and wines manufacturer AFDIS extended 7.32% to $220.0000 reinforcing previous session gains as Mashonaland Holdings improved 6.15% to $3.1846. Banking group FBC Holdings completed the top five winners of the day after putting on 3.33% to $31.0000. Activity aggregates improved as volumes of shares traded went up 5.44% to 1.65m while, turnover inched up 0.14% to $173.97m. Axia and Ecocash Holdings claimed 32.66% and 15.89% of the volume aggregate apiece. The top value leaders of the day were Innscor, Axia, Simbisa, Delta and Ecocash that contributed a combined 79.80% of the outturn. The two ETFs faltered for the second consecutive session as the Morgan & Co ETF plunged 3.92% to $13.9335 on 19,603 units while, the Old Mutual ETF lost 4.46% to $8.5199 on 209,528 units. No trades were recorded on the VFEX. Elsewhere, the Datvest Consumer Staple ETF was launched today and awaits listing on the local bourse tomorrow.