Market Comment - 05.12.2022

ZSE in modest gains as Mashonaland highlights session... The market opened the week with modest gains as the primary All Share Index inched up 0.07% to 14845.17pts while, the Blue-Chip Index rose 0.33% to 8701.17pts. Contrastingly, the Agriculture Index lost 0.11% to 72.41pts as the Mid-Cap Index dropped 0.30% to 33187.54pts. Headlining the gainers of the day was Cement producers, Lafarge that jumped 15.00% to $143.7500 while, microfinance group Getbucks surged 14.74% to $21.8000. Bankers NMB climbed 3.33% to $31.0000 while, Seed producers Seed Co ticked up 3.07% to $75.2941. Hotelier African Sun capped the top five winners’ list after a 1.71% uplift to end the day pegged at $24.1563. Mash Holdings led the losers of the day after a 14.86% dip to $17.9640 followed by clothing retailer Edgars that dipped 10.66% to close at $8.0408. Milk processors Dairibord declined 10.18% to $35.9286 while, Axia shed 1.73% to $63.0160. Tea manufacturers Tanganda completed the top five losers’ pack on a 0.79% decline to $80.4715. Activity aggregates were enhanced in the session as volumes ballooned 2838.678% to 46.40m shares while, turnover ballooned 541.74% to $998.19m. Mashonaland holdings claimed 95.80% of the total volumes traded and 80.00% of total value. Other notable value drivers were Delta and Meikles that accounted for 9.62% and 7.57% of the value traded. On the VFEX, three counters registered price movements. Padenga slipped 0.22% to USD$0.2300 while, Seed Co jumped 13.29% to USD$0.3512. The newly listed Simbisa rose 0.22% to USD$0.2300 on 250 shares. Datvest ETF put on 0.42% to $1.6800 while, the Morgan and Co MCS ETF went up 0.52% to $21.1968. The Old Mutual ETF added 4.14% to $5.95000. A total of 17,180 units worth $0.87m exchanged hands in the ETF section.