Market Comment - 09.12.2022

ART block trade anchors activity aggregates... ART anchored the volume and value aggregates in Friday’s session as 10m shares worth $142m exchanged hands in the counter as its price closed 7.79% lower at $14.2000. The trade accounted for a colossal 84.68% of total volumes and 42.03% of the value outturn. Volume of shares traded garnered 317.68% to 11.81m while, market spend rose 9.44% to $337.95m. Other notable value drivers of the day were Econet, Delta and Innscor that accounted for 28.61%, 15.91% and 12.72% of the aggregate apiece. General Beltings held the second position on the fallers’ table after easing 2.78% to $1.7500 as banking group FBC followed on a 1.43% decline to $62.0000. Spirit and wines maker AFDIS shed 0.57% to $260.1650 as beverages group Delta wrapped the decliners of the day on a 0.15% loss to $244.1949 having traded an intraday low of $243.9500. Leading the winners’ pack was Edgars that jumped 11.80% to $9.0000 trailed by SeedCo limited that put on 3.87% to $78.0000. Meikles improved 1.32% to $102.3333 as retailer OKZIM ticked up 0.52% to $26.3128. Fintech group Ecocash capped the risers’ list on a 0.27% lift to $35.9500. The mainstream All Share Index lost a negligible 0.002263% to close at 14725.07pts while, the Blue Chips Index pared 0.03% to 8562.49pts.In contrast , the Agriculture and the Mid Cap Indices gained 0.25% and 0.10% to end at 70.48pts and 33247.33pts apiece. The Old Mutual ETF surged 11.49% to $5.8469 as Morgan and CO MCS and MIZ trimmed 8.70% and 5.80% to land at $21.0000 and $1.3000 respectively. Meanwhile, Datvest traded 67,826 units at an unchanged price of $1.6400. On the VFEX, Simbisa improved 5.65% to USD$0.3050 while, Padenga let go 0.24% to USD$0.2404. The Tigere REIT was stable at USD$34.0000 as 1,635 units traded. In other news, Hippo valley released their HY23 results in which sugar production declined by 3% while, total industry sales were down 5% as PAT dipped 54% to $2.47bn. Hippo declared a dividend of USD$0.003 payable on the 6th of January 2023.