Market Comment - 22.08.2022

ZSE recovers in Monday session... The market recovered in week opener buoyed by gains in selected heavy capitalised stocks. The ZSE All Share Index put on 0.57% to 14506.54pts while, the ZSE Top Ten Index improved 1.21% to 8845.88pts. Contrastingly, the ZSE Agriculture Index and the Mid Cap Index slipped 0.34% and 0.89% to close at 82.18pts and 29510.64pts respectively. Star Africa led the rising tide as it surged 6.37% to $1.5500 while, Zimre holdings added 5.59% to $4.4876. Conglomerate Meikles rose 4.70% to $100.0000 while, banking group CBZ ticked up 4.05% to $120.0000. Fast foods group Simbisa grew 3.64% to $163.7821. Leading the decliners pack of the day was financial services group ZB that dipped 15.00% to settle at $96.9000. Property concern FMP dipped 12.00% to $5.4018 while, hotelier African Sun shed 7.13% to $12.8864. Seed manufacturer SeedCo limited trimmed 6.35% to $70.0176 while, brick makers Willdale capped the top five fallers’ pack after sliding 2.26% to $2.0035. Volumes traded plunged 82.44% to 1.99m shares while, turnover dropped 84.18% to $106.07m. Volume leaders of the day were OKZIM, NMB and Delta that claimed 38.01%, 31.32% and 10.26% of the aggregate apiece. Delta, OKZIM and NMB anchored the value aggregate with a combined contribution of 81.54% to the outturn. On the VFEX, Padenga let go 5.88% to USD$0.3200 on 17,600 shares that traded while, Bindura was stable at $0.0311 as 101,397 shares exchanged hands. The Morgan and Co MIZ ETF was the top gainer among its kind with a 5.24% improvement to $1.2146 trailed by Old Mutual ETF that enhanced 3.43% to $6.0000. Datvest MCS and Morgan and Co MCS ETFs went up 2.17% and 1.21% to $1.6392 and $28.5000 respectively. Cass saddle ETF was unchanged at $1.5500 as 287,592 units exchanged hands.