Market Comment- 13.12.2022

ZSE in measly gains... The Agriculture Index was the top performer among the indices as it extended 1.98% to 71.89pts spurred by gains in Natfoods and Tanganda. The Mid Cap Index added 0.24% to 33440.10pts as the primary All Share Index improved 0.09% to 14842.51pts. The ZSE Top Ten Index fell 0.01% to 8637.87pts. National Foods headlined the positive movers of the day after jumping 6.66% to $1,200.0000 trailed by, Star Africa that ticked up 5.99% to $1.5000. Tea company Tanganda rose 5.10% to end pegged at $85.0091 while, Axia put on 4.43% to $70.0204. Banking group First Capital went up 1.78% to close at $11.0029. Ariston was the worst performer of the day after dropping a further 9.04% to $3.0926 followed by, Zimre holdings that slipped 4.45% to $4.0500. Econet slid 3.96% to settle at $75.2721 while, African Sun trimmed 1.92% to $23.9259. Completing the top five losers of the day was Mashonaland Holdings that fell 1.45% to $17.0000. Activity aggregates improved in the session as turnover jumped 32.23% to $164.79m while, volumes traded inched up 9.27% to 1.68m. Volume leaders of the day were Econet, First Capital and Delta that claimed a combined 85.87% of the aggregate. Anchoring the value outturn of the day was Delta, Econet and Innscor with respective contributions of 36.46%, 33.50% and 14.94%. On the VFEX, nickel miner Bindura dipped 20.14% to USD$0.0230 while, SeedCo International tripped 5.22% to USD$0.3123. Padenga shed 3.81% to settle at USD$0.2300 while, fast foods group Simbisa retreated 0.89% to USD$0.3071. A cumulative of 204,308 shares worth USD$5,872.6799. Two ETFs traded sideways with MIZ sliding 3.80% to $1.1868 while, the Old Mutual ETF grew 2.64% to $6.0011. The Tigere REIT went down 2.29% to $33.7355 on 5,100 units worth $172,051.25. Elsewhere, Innscor has issued a cautionary statement advising shareholders of the approval of the company’s delisting on ZSE and immediate listing on VFEX.