Market Comment - 05.08.2022

ZSE subdued ahead of Heroes holidays... The market remained subdued in the week ending session ahead of the Heroes holiday. The mainstream All Share retreated 0.98% to close at 15763.93pts while, the ZSE Top Ten Index withdrew 1.21% to end at 9639.28pts. The Mid Cap Index pulled back 0.35% to 32066.74pts while, the ZSE Agriculture Index was the only counter to trade in the positive on a 0.22% uplift to 32066.74pts. Leading the laggards of the day was banking group First Capital that recoiled 13.02% to settle at $8.6143 as fast foods group Simbisa followed on a 4.91% decline to $190.1396. Telecoms giant Econet gave up 2.88% to close at $159.7215. Conglomerate Innscor shed 0.88% to $289.9113 while, Star Africa capped the top five fallers of the day on a 0.78% loss to $1.5876. Trading in the positive territory was agriculture concern Ariston that advanced 6.15% to $2.5000. Trailing was FML that grew 3.45% to $18.0000 as cigarette manufacturer BAT added 1.24% to $2,450.0000. Axia put on 1.09% to $76.0000 while, General Beltings extended 0.70% to close at $1.5910. Activity aggregates were mixed in Friday’s session as volumes surged 200.92% to 30.80m shares while, turnover plunged 44.32% to $450.33m. Turnall was the top traded counter by volume and value claiming 91.10% of the former and 28.49% of the latter. Other notable value drivers were in Delta (23.68%), Innscor (15.68%), Simbisa (12.48%) and Econet (9.87%). Foreign purchases dipped 99.97% to $58,820.0000 while, sales dropped 99.21% to end at $1,929,400.00. On the VFEX market, Bindura put on 1.33% to USD$0.0304 on 124,840 shares. MIZ let go 3.70% to $1.2519 as Cass Saddle ETF slipped 0.10% to $1.6500. Morgan and Co MCS and Old Mutual gained 0.03% and 0.05% to close at respective prices of $28.1600 and $6.9500.