Market Comment - 14.02.2022

ZSE rally continues ... The market rally persisted into the new week as gains in selected heavies lifted the market higher. The All-Share Index and the Industrials put on a similar 1.21% to close at 14247.43pts and 47116.93pts apiece. The ZSE Top Ten Index went up 0.74% to 9462.47pts while, the Mid cap Index extended 2.96% breezing past the 23000pts mark to settle at 23251.81pts. The market closed with a negative breadth as fallers outnumbered gainers by a count of six. Seed processor SeedCo headlined the winners of the day on a 19.97% surge to $171.1500 trailed by OKZIM that garnered 11.63% to close at $31.9570. Zimre Holdings advanced 8.28% to $3.8011 while, packaging group Nampak enhanced 5.96% to $13.2452. Fintech group Cassava capped the top five gainers’ list on a 5.94% uplift to end at a vwap of $75.3918. Mashonaland Holdings was the major casualty of the day as it succumbed 13.51% to end pegged at $2.6334. Brick manufacturer Willdale followed on a 5.15% retreat to $3.4006 while, beverages group Delta shed 4.31% to $222.7832 on profit taking. Microfinance group Getbucks which is trading under cautionary trimmed 3.47% to $5.0000, as cement manufacturer Lafarge let go an identical 3.47% to settle at $82.0500. Activity aggregates were depressed in Monday’s session as volumes dropped 34.19% to 5.68m shares while, turnover dipped 51.29% to $219.56m. Star Africa and OKZIM claimed a combined 71.03% of the total volumes. Top value drivers of the day were Delta, Tanganda and OKZIM which accounted for 30.05%, 12.82% and 11.23% respectively. On the VFEX, 33,600 shares worth USD$1,512.0000 exchanged hands in Bindura. Morgan and Co ETF slipped tripped 4.22% to $13.0379 while; Old Mutual ETF slipped 0.50% to $8.0133.