Market Comment - 13.10.2022

ZSE remains in the positive... The market extended gains in Thursday’s session as all the four benchmark indices we review closed in the positive territory. The mainstream All-Share Index edged up 0.78% to 13591.97pts while, the Mid-Cap Index added a marginal 0.06% to 29938.97pts. The Blue-Chip Index and the ZSE Agriculture Index reversed prior session’s losses after adding 1.11% and 1.16% to end at 8009.37pts and 69.73pts respectively. Turnall Holdings topped the winners’ pack on a 12.43% jump to $3.8254 as First Mutual Properties overturned yesterday’s losses to record an 8.33% rise as it closed at $6.5000. Zimre Holdings advanced 7.44% to $4.8965 while, bankers ZB Financial Holdings shored up 6.07% to finish at $70.0070. Tobacco processor BAT swelled 5.26% to complete the top five winners’ list at $2999.9000. The worst faller of the day was OK Zimbabwe that dropped 5.64% to $32.1500, trailed by brick entity Willdale which fell 4.76% to $2.0000. Ecocash Holdings slid 2.79% to $48.4545 while, packaging group Nampak eased 1.47% to $9.4541. FBC Holdings capped the top five decliners’ set on a 0.10% retreat to $49.9500. Activity aggregates were depressed in the session as turnover tumbled 31.58% to $410.87m while, volume of shares traded plunged 65.50% to 3.10m. The market registered a positive breadth of twelve as twenty stocks advanced against eight that declined. Top volume drivers of the day were ZB (16.18%), Innscor (15.45%), Simbisa (14.26%), Econet (13.44%) and Axia (11.95%). Innscor, Simbisa Brands, Delta and Econet were the most liquid counters on the bourse as they contributed a shared 74.87% of the value aggregate. The Morgan & Co ETF was the sole faller amongst the ETFs as it succumbed 4.67% to settle at $24.0000. On the flip side Old Mutual and Datvest ETFs improved 0.14% and 0.05% to $5.2000 and $1.7100 apiece.