Market Comment - 17.10.2022

ZSE commences new week in modest gains... The market commenced the new week in the positive as all the four benchmarks that we track closed pointing northwards. The primary All Share Index put on 0.47% to 13897.26pts while, the ZSE Top Ten Index extended 0.49% to end at 8262.25pts. The ZSE Agriculture Index and the Mid Cap Index added 0.45% and 0.44% to close at 70.29pts and 30044.06pts apiece. Financial services group ZB headlined the winners of the day on a 15.00% charge to $80.5000. Following was Dairibord that jumped 9.20% to $32.0000 as a scanty 200 shares were traded. Fast foods group Simbisa edged up 5.00% to $180.0000 while, TSL improved 3.96% to end pegged at $38.7753. Telecoms giant Econet fastened the top five risers’ pack after gaining 3.35% to $89.8103. Leading the weaklings of the day was packaging group Nampak that succumbed 5.86% to $8.9000. Construction group Masimba shed 2.57% to trade at $70.8000 as banking group First Capital trimmed 1.62% to $9.5314 as it extended prior session’s losses. Lone miner on the bourse, RioZim slipped 1.52% to $130.0000 as top capitalised stock Delta capped the top five fallers of the day on a 1.20% retreat to $224.2478 having traded a low of $220.0000. Activity aggregates were depressed in the session witnessed by volumes that dropped 25.46% to 2m shares while, turnover fell 23.42% to $151.19m. Top volume drivers of the day were Star Africa, Econet and Delta that claimed a combined 72.71% of the aggregate. The duo of Delta and Econet anchored the value outturn of the day as they claimed 35.89% and 32.57% apiece. The Datvest MCS and the Old Mutual ETFs ticked up 0.66% and 0.49% to close at respective prices of $1.7215 and $5.2335. Morgan and Co MIZ slid 2.72% to $1.1674. A total of 115,746 units worth $366,127.71 exchanged hands. On the VFEX, Bindura hopped 1.67% to USD$0.0305 on 77,237 shares while, SeedCo International was stable at USD$0.3800 as 1.05m shares traded.