Market Comment - 03.05.2022

New month commences in losses... The market commenced the month of May in losses as benchmark indices continued to falter. The primary All- Share Index shed 2.67% to close at 27632.32pts while, the Industrial Index trimmed 2.62% to 91166.34pts. The Mid- Cap Index retreated 2.92% to finish at 45602.33pts while, the Blue-Chip Index was down 2.61% to 18295.10pts. Construction firm Masimba Holdings led the top five losers of the day succumbing 11.69% to $70.2353. Meikles trailed on a 10.90% loss to $244.9753 while, mining house RioZim slipped 10.71% to finish at $150.0000. Beverages group Delta dropped 9.55% to end lower at $399.9760, having reached an intraday low of $399.0000. Capping the fallers’ pack was General Beltings which shrunk 6.65% to $2.2836. The market recorded a negative breadth of seven as twenty-three counters declined against sixteen that advanced. Leading the winners of the day was Mashonaland Holdings that surged 14.33% to $5.8500, followed by Hippo Valley which rose 13.34% to $510.0493. The threesome of banking groups in Getbucks, NMB and First Capital grew 7.69%, 7.61% and 6.52% to end pegged at $10.5000, $36.9192 and $9.8134 respectively. Activity aggregates traded mixed as turnover dropped 41.03% to $172.78m while, volume of shares traded improved 9.49% to 2.81m shares. The trio of Hippo Valley, Econet and FBC Holdings claimed a combined 66.74% of the value outturn. Volume leaders of the day were Star Africa (34.16%), First Mutual properties (10.61%) and FBC (9.34%). The three ETFs traded sideways as Datvest MCS gained 17.18% to $2.5241 on 1,28m units while, Morgan ETF firmed up 5.52% to $22.5174 on 35,319 units. Old Mutual ETF ended 1.39% lower at $11.1913 on 152,940 units. On the VFEX, Padenga inched up 0.19% on a scrappy 100 shares and closed at USD$0.2130 WHILE Bindura traded 563,685 shares at a stable price of USD$0.04800.