Market Comment - 25.07.2022

Heavies buoys the market... The market sustained Friday''s gains to commence the final week of the month in the black mainly buoyed by heavies. The All-Share Index went up 2.74% to close at 16616.07pts while, the Blue-Chip Index extended 2.68% to 10227.57pts. The Agriculture Index was up 1.02% at 93.80pts while, the Mid Cap added 1.75% to close at 33097.93pts. Leading the market upsurge for the second consecutive session was Unifreight that ticked up 14.89% to $38.2000. Property concern FMP garnered 12.40% to settle at $7.8851 as hotelier RTG soared 11.90% to end at $9.4000. Telecoms giant Econet reinforced prior sessions’ gains to record a 11.20% jump and settled at $151.2161. Fast foods group Simbisa capped the top five risers of the day on a 10.90% lift to $219.7651. Turnall led the decliners of the day as it succumbed 14.97% to $4.0900 while, brick makers Willdale followed on a 4.79% retreat to $2.2913. Apparel retailer Truworths trimmed 4.35% to $2.2000 while, hotelier African Sun slipped 2.10% to $14.1613. Conglomerate Meikles capped the top five shakers of the day on a 0.99% loss to $105.4211. Activity aggregates were mixed in the session as volumes dipped 58.47% to 5.15m while, turnover rose 13.95% to $752.38m. Volume leaders of the day were Econet, Mashonaland Holdings, Simbisa, Delta and Innscor which claimed a combined 83.08% of the aggregate. Heavies Econet, Delta, Simbisa and Innscor anchored the value aggregate on respective contributions of 26.84%, 22.37%, 21.49% and 21.33%. On the VFEX, Padenga ticked up 0.50% to close at USD$0.3025 on 2,000 shares worth USD$605.0000. The ETF Index dropped 12.32% to close at 389.4519pts as 145,062 units exchanged hands in the five ETFs. Datvest and Old Mutual ETFs came off 0.79% and 0.12% to end pegged at $1.6000 and $8.9900 apiece. The Cass Saddle ETF grew 0.22% to $1.4200 as MIZ and Morgan and Co MCS were unchanged. Elsewhere, the RBZ launched the Mosi-oa-Tunya gold coin today.