Market Comment - 10.02.2022

Nampak block trade lifts the market... A block trade in packaging group Nampak highlighted the trading session as 8.12m shares worth $101.53m exchanged hands. The trade accounted for 60.7% of the total volumes and 21.44% of the value outturn. Other notable volume drivers were Hippo Valley (15.00%), Econet (14.41%), Simbisa (12.98%) and Delta (10.97%). Volumes traded soared 50.03% to 13.48m shares while, turnover slipped 22.66% to $473.72m. The All-Share Index and the Industrial Index gained a similar 3.56% to close at 13542.80pts and 44778.86pts respectively. The Blue Chips Index rose 4.07% to 8948.34pts as the Mid-Cap Index improved 2.36% to 22373.85pts. A total of thirty-nine stocks were active in the session as twenty-nine counters advanced, seven fell and three traded at their previous prices, leaving the market breadth of twenty-two. Milk processor Dairibord headlined the gainers of the day on a 16.58% jump to $34.9500, trailed by Cassava which advanced 10.70% to reach $70.0000. Sugar refiner Star Africa rebounded 8.51% to $1.3600 as Axia charged 8.44% to $70.0000. Hippo completed the top five risers’ pack on a 7.65% rise to $280.0000. Truworths was the worst faller on a 6.28% dip to $2.2025 while, agriculture firm Ariston followed on a 4.45% loss to $3.6525. Tea processor Tanganda fell 1.32% to $75.0000 while, African Sun eased 1.24% to settle at $7.8000. Banking group First Capital capped the top five laggards of the day after letting go 0.29% to finish at $3.4500. On the VFEX, Bindura traded 1,300 shares at USD$0.0450 while, Padenga was unchanged at USD$0.2100 after 2,477 shares were swapped. SeedCo International closed at USD$0.2850 on 3,017 shares worth USD$859.8450. The two ETFs traded mixed as Morgan & Co lost a marginal 0.02% to $13.7039 on 12,360 units while, the Old Mutual ETF price rose 4.60% to $7.8383 on 9,869 units.