Market Comment - 22.06.2022

ZSE continues to lose ground in mid-week session... The market continued to lose ground in the mid-week session as the primary All-Share Index dropped 0.83% to 22044.22pts. The Blue Chip-Index lost 0.90% to 14005.83pts while, the Mid-Cap Index retreated 0.61% to 40871.33pts with the ZSE Agriculture Index succumbing 2.65% to 120.67pts. Leading the top five fallers of the day was sugar processor Hippo Valley which lost 14.99% to $281.8000, followed by Zimpapers that retreated 13.04% to $5.0000. Brick manufacturers Willdale slumped 6.96% to $3.1635, trailed by NMBZ which eased 6.67% to $28.0000. Mashonaland Holdings capped the top five shakers of the day on a 6.20% to $6.5658. Property concern First Mutual Properties led the winners of the day on a 14.08% surge to $10.8969 while, First Mutual Holdings advanced 7.90% to end at $28.0000. Hotelier African Sun went up 5.47% to close at $19.5227, followed by Zimre Holdings which climbed 4.83% to $5.8703. Capping the top five risers of the day was financial services group CBZ which grew 1.21% to close the day at $125.0000. Activity aggregates of the day enhanced as volumes rose 10.86% to 1.9m shares while, turnover ticked up 9.81% to $288.06m. The trio of Delta, Econet and Innscor led the value leaders after claiming a combined 58.43% of the outturn. OKZim was the top volume driver with a 24.15% contribution, trailed by Ecocash and Econet which contributed 13.49% and 12.82% respectively. Exchange Traded funds were mixed in the session as the Morgan & Co Made in Zim went up 0.04% to $1.1705 while, the Old Mutual ETF grew up 0.66% to $9.8159. Morgan & Co Multi Sector added 0.17% to end the day at $26.0000 as Datvest ETF was the only loser on a 0.13% loss to $2.0971. On the VFEX, Bindura slipped 14% to trade at US$0.0387 as 543,800 shares traded.