Market Comment - 05.04.2022

ZSE clings on to modest gains... Gains persisted in Tuesday’s session as mid and small cap counters emerged as the top gainers of the day. The primary All-Share Index clung on previous modest gains as it went up 0.73% to close at 16304.19pts while, the Industrial Index inched up an almost similar 0.74% to end at 53871.41pts. The Blue-Chips Index rose 0.35% to 10741.52pts as the Mid-Cap Index ticked up 1.86% to 27169.29pts. Topping the gainers’ pack was banking group NMB that surged 15.80% to settle at $13.8889 while, apparel retailer Truworths trailed on a 15.15% jump to $1.9000. The duo of banking groups in FBC Holdings and First Capital Bank advanced 14.58% and 14.10% to trade at $41.0000 and $5.8058 respectively. Tea company Tanganda completed the top five risers’ pack on a 11.13% uplift to $106.7000. Agricultural firm Zimplow was the major casualty of the day as it dipped 13.28% to $19.0033 while, sugar refinery Star Africa shed 4.17% to $1.3340. Hotelier Meikles eased 3.50% to $135.0518 as retailer OK Zimbabwe was 1.03% softer at $29.5896. Telecoms giant Econet dropped 0.84% to close at a vwap of $136.3709 on 514,167 shares. Twenty-two counters registered price movements in the session as twenty counters gained against twelve losers, to see the market close with a positive breadth of eight. Activity aggregates improved as turnover enhanced 10.87% to $347.6m while, volume of shares traded ballooned 193.91% to 6.35m. Delta, Zimplow and Econet dominated the value category with a combined 91.50% contribution to the outturn while, Zimplow and Delta accounted for 63.07% and 11.24% of the volume aggregate respectively. On the VFEX, Bindura dropped 6.54% to close at $0.0500 as 252,139 shares worth $12,606.95 traded. Datvest and Morgan ETF lost 0.73% and 0.28% to finish at $1.8842 and $14.7921 respectively. Old Mutual ETF was the only ETF that traded in the positive as it put on 1.05% to $8.4600, having traded 78,649 units.