Market Comment - 06.06.2022

ZSE opens the week in the black... The market upswing continued into the new week as the benchmark indices in our review remained in the black. The All-Share Index gained 1.23% to 23976.33pts while, the ZSE Top Ten Index advanced 1.04% to 15814.61pts. The Mid Cap Index enhanced 1.79% to 40080.74pts while, the ZSE Agriculture Index boosted 0.07% to 121.03pts. Hotelier African Sun headlined the winners of the day on a 14.96% surge to close at $20.7000 trailed by FML that jumped 14.88% to $23.0000. Clothing retailer Truworths garnered 12.50% to $2.2500 while, finance institution Getbucks, charged 10.64% to $13.0000. OKZIM completed the top five gainers of the day on a 5.95% lift to $47.6868. Headlining the day’s fallers was NMB that retreated a further 4.00% to settle at $28.8000 as telecoms giant Econet let go 0.79% to $235.2488. Axia trimmed 0.17% to $137.7633 while, brick manufacturers Willdale shed 0.03% to $3.4860. Tea company Tanganda went down a negligible 0.02% to end pegged at $249.9510. Activity aggregates faltered in Monday’s session as volumes dipped 65.65% to 0.65m shares, turnover succumbed 76.50% to $116.01m. Volume leaders of the day were Star Africa, Innscor and Hippo Valley that claimed a combined 44.38% of the aggregate. Value leaders of the day were Innscor and Hippo Valley with respective contributions of 46.73% and 22.05%. On the VFEX, Bindura rose 0.91% to close at USD$0.0334 on 6,658 shares worth $222.3772. On the ETF market Datvest was the top gainer with a 12.66% improvement to $2.2456 while, Old Mutual edged up 6.77% to $11.6340. Morgan and Company ETF ticked up 0.82% to end at $24.1899. A total of 129,155 units worth $961,241.03 were exchanged in the three ETFS.