Market Comment - 25.08.2022

ZSE scratch gains... The ZSE scratched gains in Thursday session as the primary All Share Index added a marginal 0.03% to close at 14365.64pts. The Mid-Cap Index gained 1.22% to 29500.23pts. The Blue-Chip Index and the ZSE-Agriculture Index lost 0.48% and 1.91% to close at 8720.82pts and 78.36pts respectively. Gainers of the day were led by property firm First Mutual Properties which soared 14.93% to $6.9300. Media entity Zimpapers followed on a 10.73% increase to $4.0000 while, hotelier African Sun firmed up 9.77% to $15.5000. Banking group CBZ surged 9.06% to $143.6329 as Meikles capped the top five gainers’ list with a 6.92% rise to $100.0000. Agro-industrial concern Ariston headlined the decliners as it dropped 13.02% to $2.1013 while, Bridgefort Capital slumped 12.73% to $12.0000. Brick company Willdale succumbed 6.47% to $1.8706 while, National Foods Holdings gave up 4.41% to $1,345.0000. Completing the group was tobacco entity BAT which fell 2.41% to $2,390.0000. A negative market breadth of four was registered in a session where fifteen counters dropped, eleven gained while, eight were unchanged. Turnover jumped 47.41% to $217.76m while, volumes plunged 13.97% to 2.25m shares. Delta and Innscor contributed a combined 68.94% to the value outturn. The quartet of OK Zimbabwe, Delta, NMB and Ecocash Holdings accounted for a shared 68.58% of the volumes aggregate. On the VFEX, Bindura lost 0.32% to USD$0.0310 on 288,622 shares while, Padenga was 6.25% stronger at USD$0.3400 on 10,787 shares. A total of 1.03m units worth $5.14m exchanged hands in the ETF market. The Datvest ETF let go 0.02% to $1.6900 while, the Old mutual ETF retreated 1.69% to $5.1400. Morgan and Co MIZ was the only riser among its kind with a 3.19% lift to $1.2500.