Market Comment - 06.12.2022

Market trades softer in Tuesday''s session... The market slipped into the red in Tuesday’s session as losses in selected heavies weighed down the ZSE. The mainstream All-Share retreated 0.45% to 14778.48pts while, the ZSE Top Ten Index trimmed 0.51% to end the day on 8656.66pts. The ZSE Agriculture Index lost 1.16% to close at 71.57pts while, the Mid-cap Index dropped 0.33% to 33079.31pts. Packaging group Nampak was the worst faller of the day on a 8.62% dip to $7.3103. Trailing was Mashonaland Holdings that slipped 4.57% to end at $17.1429. Cigarette manufacturer BAT tumbled 3.55% to trade at $2990.0000 as banking group NMB was 3.23% weaker at $30.0000. CBZ Holdings completed the top five losers of the day on a 3.16% fall to $124.0000. Headlining the winners of the day was Axia that surged 1.87% to $64.1960 post the announcement of the group’s delisting from the ZSE and subsequent listing on the VFEX. Banking group First Capital improved 1.22% to $9.9818 while, telecoms giant Econet was 0.43% firmer at $73.7437. Zimre Holdings ticked up 0.08% to finish at $4.4500 as seed processor Seed Co Limited capped the top five gainers of the day on a 0.07% rise to $75.3500. Volumes traded succumbed 94.31% to 2.64m shares while, turnover plummeted 73.04% to $269.12m. NMB and ECONET dominated the volume aggregate as the duo contributed 44.91%. Other notable volume drivers were Delta (20.04%), Ecocash Holdings (5.30%) and Axia (4.68%). Delta, Econet Cafca, Nmbz, and Innscor contributed a combined 83.47% to the total outturn. Foreign purchases amounted to $498,154.00 while, sales stood at $147,482,833.00. Seed Co International and Simbisa dropped 3.27% and 11.05% to close at US$0.3397 and US$0.3407. Padenga went up 4.57% to end pegged at US$0.2405 while, Bindura was stable at USD$0.0295 on 100 shares. The ETFs traded a cumulative total of 182,653 units and the only two that registered trades were Datvest and MIZ. The MIZ ETF was 0.63% stronger $1.3887 while, the Datvest TF rose 0.02% to $1.6804INDEX