Market Comment - 24.10.2022

Delta and Innscor highlight the session... Beverages group Delta and conglomerate Innscor highlighted the session as they claimed a shared 54.60% of the volume aggregate and 82.30% of the value outturn. A total of 1.41m shares worth $243.07m exchanged hands proving buying and selling was skewed to the highly priced stocks in the session. The market closed with a positive breadth of twelve as seventeen counters rose against five that lost ground. Dairibord was the top gainer of the day after extending 13.83% to close at $47.8095. Following was brick manufacturer Willdale that added 12.50% to $2.7000 as National Foods ticked up 8.32% to $1,105.0000. Zimplow edged up 6.90% to settle at $15.5000 while, Simbisa capped the top five day’s winners on a 6.55% improvement to $225.0585 as the fast foods group announced its intent to invest USD$23m in new stores. The worst performer of the day was financial services group ZB that dipped 4.16% to $115.0110 trailed by banking group CBZ that dropped 3.62% to trade at $130.1079. Apparel retailer Edgars trimmed 0.48% to $7.4700 while, spirits and wines manufacturer AFDIS retreated 0.33% to $298.0000. OKZIM completed the fallers’ set on a 0.09% loss to $32.9705. Gains in selected heavies lifted the market further as the ZSE Top Ten Index inched up 2.24% to 8604.58pts aiding the mainstream All Share Index that increased 1.73% to 14553.96pts. The ZSE Agriculture Index soared 2.98% to 75.13pts as the Mid-Cap Index gained a marginal 0.55% to 31846.11pts. The Morgan and Co MIZ and the Old Mutual ETFs dropped 8.25% and 1.17% to close at respective prices of $1.1000 and $5.4359. Datvest MCS and Morgan and Co MCS ETFs traded at stable prices of $1.7000 and $22.0000. Cumulatively, 145,200 units worth $774,457.00 exchanged hands in four ETFs. There were no trades on the VFEX market.