Market Comment - 25.02.2022

ZSE ekes out gains in week ending ... The ZSE eked out gains in the final session of the holiday shortened week after a three-day losing streak. The Midcap Index was tops amongst the indices after putting on 2.44% to close at 24060.88pts. The All-Share Index added 0.14% to end at 14898.26pts while, the Industrial Index went up 0.13% to 49258.79pts. The ZSE Top Ten Index trimmed 0.53% to end at 9937.39pts. Leading the risers’ pack was TSL that surged 20% to settle at $96.0000 as it reinforced gains from previous session. Unifreight jumped 15.27% to $30.0000 as, cement producers Lafarge advanced 11.77% to $95.0500. National Tyre services improved 11.11% to $8.0000 while, packaging group Nampak capped the top five winners of the day on a 8.00% uplift to $13.5000. BAT was the worst performer of the day as it dipped 20.00% to end at $2,371.90 bringing its YTD loss to 25.90%. Following was Brick manufacturers Willdale that tumbled 5.27% to $2.8420 as banking group NMB let go 5.11% to $11.8610. Tea company Tanganda trimmed 2.47% to trade at $75.0052 while, conglomerate Meikles shed 1.39% to close at $139.0401 as it capped the top five losers’ pack. Volume of shares traded dropped 96.20% to 1.56m yielding a turnover of $151.47m which declined 62.30% from prior session. Anchoring the volume aggregate of the day was Tanganda that claimed 34.77% of the aggregate. Top value drivers of the day were Tanganda, Innscor and Delta that accounted for 26.98%, 25.55% and 15.97%of the outturn apiece. The two ETFs traded mixed as the Morgan and Co eased 0.41% to $14.4418 while, the Old Mutual ETF rose 4.37% to $9.9542. Padenga was stable at USD$0.2100 as 7741 shares worth USD$1625.6100 swapped hands. Elsewhere, CFI released its first quarter trading update in which the company reported a 65.70% increase in revenues to $5.25bn in inflation adjusted terms.