Market Comment - 06.04.2022

ZSE scratches gains... ZSE scratched gains in the midweek session as the mainstream All-Share Index went up 0.93% to close at 16455.89pts. The Industrial Index gained 0.90% to 54353.68pts while, the Top Ten Index advanced 0.97% to close at 10845.86pts. The Mid-cap Index put on 0.60% to land on 27331.61pts. Apparel retailers Edgars headlined the gainers of the day as it jumped 18.64% to settle at $5.4000, trailed by Turnall that surged 18.33% to $7.1000. National Foods improved 14.27% to end pegged at $2,056.9196 while, hotelier African Sun surged 13.62% to $10.4368. Completing the top five winners of the day was Riozim that added 9.09% to close at $72.0000. Fintech Group Ecocash Holdings led the laggards of the day on a 4.96% drop to $71.0750 followed by banking group, NMB that shed 3.87% to $13.3516. General Beltings trimmed 3.70% to end pegged at $1.4813 while, Hippo Valley let go 3.33% to settle at $289.9864. Mashonaland Holdings capped the top five fallers’ pack on a 2.34% decline to settle at $3.1250. Activity aggregates reflected a positive outcome in Wednesday’s session as turnover improved 27.03% to $441.57m while, volume of shares traded enhanced 71.71% to 10.90m. The trio of First Capital, Zimplow, and Econet were the top volume leaders of the day as they contributed a shared 75.35% of the total volumes. Delta led the value leaders accounting for 22.74%, followed by Econet and Innscor with contributions of 20.59% and 10.15% to the outturn respectively. Exchange Traded funds declined in the session, as the Morgan & Co ETF was 1.65% down at $14.5482 while, the Old Mutual ETF retreated 0.34% to $8.4313. Datvest ETF lost 0.79% to $1.8694. A total of 175,196 ETF units worth $785,733.80 were traded in the session. Padenga retreated 0.05% to USD$0.2104 on 13,374 shares. Elsewhere, Central Bank has announced that it will issue a $100 note to facilitate ease of transactions.