Market Comment - 21.07.2022

All-Share ebbs to record 77-day low... The ZSE falling streak persisted into the penultimate session of the week as the mainstream All-Share Index recorded its 77-day low of 15809.52pts, having retreated 0.94% in the session. The Blue-Chips Index went down 0.71% to 9708.76pts. The ZSE Agriculture Index let go 0.45% to end at 91.81pts as the Mid-Cap Index closed 1.93% softer at 31712.55pts. Leading the market retreat was RTG that dipped 13.27% to $8.5000 on scrappy 900 shares. Following was retailer OKZIM that succumbed 12.54% to end at $25.3666. Seed company SeedCo Limited plunged 9.99% to close at its YTD low of $90.0000. Axia slipped 9.41% to settle at $72.3333 as financial services group Getbucks capped the top five shakers of the day on a 6.25% loss to $15.0000. Partially offsetting today’s losses were gains in First Mutual that surged 15.00% to close at $19.5500. Turnall and Edgars added a similar 14.52% to end pegged at $4.8100 and $7.1000. Brick manufacturer Willdale improved 12.37% to $2.2364 as Dairibord held the fifth position of the gainers’ pack on a 11.78% rise to trade at $28.0000. Volume of shares traded dropped 60.06% to 2.69m, yielding a turnover of $135.85m. Mashonaland Holdings claimed 50.30% of the total volumes traded for the day. Top value drivers were Innscor, Simbisa, Delta and Ecocash with respective contributions of 33.35%, 23.05%, 11.62% and 8.69%. Three of the ETFs traded in the positive territory as only one declined. MIZ led the risers amongst the ETFs on a 2.46% lift to $1.2500, trailed by Datvest MCS that put on 0.24% to $1.6993. The Old Mutual ETF ticked up a marginal 0.09% to $9.0000. Cass Saddle snapped its five-day rising streak to record a 4.88% loss that took it to $1.4000. On the VFEX market, Padenga notched up 0.17% to close at USD$0.3010 while, SeedCo International traded 679 shares at a stable price of USD$0.2810. A total of 1,958 shares worth USD$576.0000 exchanged hands in the two counters.