Market Comment - 17.02.2022

Top Ten breaches 10,000pts mark... The market sustained gains in the penultimate session of the week, spurred by gains seen mostly in heavy cap counters. The All-Share Index went up 0.58% to 15015.76pts, as the old Industrials gained 0.56% to 49652.50 pts. The ZSE Top Ten was the major gainer amongst the indices as it advanced 0.91% to breach the 10000pts mark, ending the day at 10001.75pts bringing its year-to-date gains to 44.27%. On the contrary, the Mid-Cap Index eased 0.44% to 24379.68pts weighed down by losses in ZB and General Beltings. Mining house RioZim led the gainers of the day on a 8.70% surge to $50.0000, trailed by Star Africa that advanced 6.32% to $1.5975. First Mutual Properties was up 5.14% to $7.3600 while, bankers First Capital rose 5.09% to close at a vwap of $3.7718. Art holdings capped the top five winners of the day as it charged 4.93% to $10.8088. Banking group ZB led the laggards of the day after plunging 17.50% to $65.1301, followed by General Belting that lost 12.55% to trade at $1.5929. Packaging group Nampak tumbled 5.66% to $12.5000 while, brick manufacturer Willdale continued to falter as it shed 4.24% to $3.2111. Zimre holding Limited completed the top five shakers list after trimming 3.51% to settle at $3.7397. Activity aggregates for the day recovered as volumes added 1.74% to 5.10m shares yielding a value outturn of $410.74m which was a 19.82% jump from prior session. ZB and Tanganda were the volume leaders of the day as they contributed a shared 59.32% of the aggregate. ZB emerged as the top value driver of the day, claiming 32.21%, trailed by Tanganda, Delta, and Econet that contributed 18.12%, 13.98% and 10.08% respectively. Morgan & CO ETF enhanced 2.56% to $13.92000 reversing yesterdays’ losses while, Old Mutual Top Ten grew 3.77% to $8.3016. On the VFEX, Padenga traded 5,177 shares worth US$1,087.17.