Market Comment - 23.05.2022

Mash Holdings anchors activity aggregates... Mashonaland Holdings highlighted Monday’s trading session as 20.29m shares worth $81.17m exchanged hands. The shares represented 92.76% of the total volumes that traded and 29.66% of the value outturn. Other notable value drivers of the day were Econet, Delta and Innscor with a combined contribution of 50.17% to the aggregate. Volume of shares traded ballooned 1415.52% to 21.88m as turnover jumped 77.04% to $274.58m. Banking group NMB was the major casualty of the day having dipped 14.93% to end pegged at $29.3500. TSL dropped 13.24% to settle at $85.0250 while, NTS trimmed 12.20% to $12.0000. Property concern FMP came off 12.18% to $6.1348, as Zimplow capped the top five shakers on a 8.49% retreat to $23.4261. Brick manufacturers Willdale headlined the winners of the day on a 9.42% surge to $2.8040, trailed by Mashonaland Holdings that advanced 5.82% to $4.0000. ART followed on a 4.75% rise to $21.9970 while, retailer OKZIM grew 2.81% to trade at $38.3217. Star Africa capped the top five gainers’ list after putting on 1.54% to $1.9513. Fallers outweighed gainers by a count of five, leaving the market with a negative breadth. The mainstream All Share Index and Industrial Index let go a similar 0.29% to close at 20737.29pts and 68427.09pts respectively. The Mid-Cap Index shed 2.61% to end pegged at 36391.87pts. Contrastingly, the ZSE Top Ten Index went up 0.04% to settle at 13364.87pts as selected blue-chip counters rebounded. The ETF family ended mixed as the Datvest ETF added 0.65% to $2.1431 while, the Old Mutual ETF slipped 0.24% to $9.4815. A total of 65,629 units worth $213,000.72 traded in the ETFs. The VFEX market recorded no trades in the session.