Market Comment - 07.11.2022

ZSE declines in week opener... The market declined for the second consecutive session as three indices that we track closed pointing south. The mainstream All Share Index declined 0.42% to 15051.42pts while, the ZSE Top Ten Index slipped 0.54% to 8823.03pts. Likewise, the Mid Cap Index shed 0.13% to end at 33603.52pts. The Agriculture Index was the sole gainer amongst the indices as it edged up 0.06% to 76.09pts. The laggards of the day were led by clothing retailer Truworths that dipped 13.29% to $2.2025. Trailing was Turnall that tripped 10.49% to $3.5000 as FML went down 4.08% to settle at $23.5000. Banking group NMB let go 3.99% to trade at $24.0032 as Proplastics capped the top five fallers’ list on a 3.84% dip to $28.3636. Agriculture concern Ariston was the top gainer of the day after putting on 4.62% settling at $1.9000. Star Africa added 2.70% to $1.9000 while, hotelier African Sun improved 2.36% to $26.0000. First Capital extended 0.80% to $9.6745 while, retailer OKZIM grew 0.63% to $29.8251. Activity aggregates were mixed in the session as volumes jumped 34.88% to 2.02m while, turnover succumbed 25.70% to $152.69m. Volume leaders of the day were NMB and Delta with respective contributions of 59.75% and 16.44%. Value leaders of the day were Delta, NMB and Econet that claimed a combined 81.10% of the outturn. Foreign outflows outstripped inflows to record a net funds outflow position of $18.60m. Old Mutual ETF rose 12.50% to $5.8651 while, Datvest MCS ticked up 0.06% to $1.7479. Cass Saddle, MIZ and Morgan and Co MCS were stable at $2.0000, $1.0600 and $21.6500 respectively. A total of 40,320 shares worth $114,080.80 exchanged hands in the 5 ETFs. On the VFEX market, Padenga rallied 1.53% to USD$0.2449 on 55,990 shares worth USD$13,714.45.