Market Comment - 19.05.2022

Market in marginal losses... The ZSE recorded marginal losses in the penultimate session of the week amidst constrained liquidity. The All-Share Index and the Old Industrials lost a similar 0.93% to see the former close at 20792.40pts and the latter at 68605.26pts. The ZSE Top Ten Index declined 1.06% to settle at 13351.99pts while, the Mid cap Index lost an insignificant 0.00001% to end at 37572.53pts. Turnall extended its losses from the prior session after plunging 13.40% to close at $4.8131. Brick manufacturers Willdale dropped 12.16% to end at $2.7200, as Mashonaland tripped 10.42% to $3.2934. Property company FMP trimmed 5.86% to settle at $6.9858 reversing prior session’s gains. Construction group Masimba capped the top five shakers of the day on a 5.26% retreat to $60.0000 on scrappy 500 shares. Truworths headlined the gainers of the day on a 15.00% surge to $1.7250 while, Ariston strengthened yesterday’s gains on a 6.46% uplift to $3.9250. Dairibord put on 1.60% to $53.0000 while, Star Africa added 1.53% to $1.9993. First Mutual Holdings rose 1.12% to $16.3587 as it completed the top five winners of the day. Volume of shares grew 16.22% to 0.91m shares while, turnover jumped 87.62% to $173.01m. Delta, OKZIM, Simbisa, Econet and Innscor anchored the volume aggregate as they accounted for a shared 72.80% of the outturn. Heavies Delta, Innscor, Simbisa and Econet were the top value drivers of the day with respective contributions of 52%, 20.28%, 11.89% and 9.17%. Local purchases accounted for 97.78% of turnover while, sales accounted for 61.05% of the same. On the VFEX, Bindura dipped 19.96% to $0.0393 on 739,170 shares. Datvest MCS slumped 2.64% to $2.0350, as Old Mutual ETF went down 0.47% to $9.2019 while, Morgan and Company ETF was stable at $25.0000. Elsewhere, African Sun released Q1 trading update in which it reported a top-line growth of 242% to $1,65bn in inflation adjusted terms.