Market Comment - 15.07.2022

ZSE ends week in marginal gains as Cass Saddle debuts... The market capped the week mixed as the mainstream All Share Index added a marginal 0.24% to 16147.48pts while, the ZSE Top Ten Index ticked up 0.27% to 9867.48pts. The Mid-Cap Index and the ZSE-Agriculture declined 0.79% and 0.04% to end at 32627.10pts and 89.94pts accordingly. Headlining the winners of the session was property concern FMP that surged 13.89% to $8.5068 as it overturned previous session’s losses. Following was General Beltings that jumped 11.99% to $1.5679. Fast foods group Simbisa improved 5.35% to $187.8759 while, packaging group Nampak extended 4.76% to $11.0000. Capping the top five risers of the day was fintech group Ecocash that rebounded 2.50% to $52.2401. Proplastics led the laggards of the day after succumbing 11.07% to $23.1214. Brick manufacturers Willdale trailed on a 10.97% drop to $1.5583 while, Axia trimmed 10.78% to $71.3791. Insurance group FML let go 2.40% to $17.1250 while, banking group CBZ slipped 2.22% to $132.0000. Activity was confined to twenty-eight counters which were distributed into fourteen gainers, ten losers and four that traded unchanged, to leave the market with a positive breadth of four. Activity aggregates were depressed in Friday’s session as volumes dipped 44.23% to $5.70m while, turnover plummeted 54.01% to $444.55m. Volume drivers of the day were Econet, ZHL and Ecocash that claimed 25.76%, 25% and 20.09% respectively. Turnover was anchored by Econet, Innscor and Ecocash that contributed a combined 84.86% of the outturn. Cass Saddle ETF listed at $1.0000 and gained 15.00% to close at $1.1500 as 500,000 units worth $575,000.00 exchanged hands in its debut session . Made In Zimbabwe ETF added 2.05% to $1.2300 while, Morgan and Company MCS rose to $28.4000. Old Mutual ETF grew 0.21% to $9.0700. The Datvest was the sole faller amongst the ETFs on a 0.09% loss to $1.8164 while, no trades took place on the VFEX market.