Market Comment - 26.07.2022

Econet and Simbisa lead the market ... Telecoms giant Econet led the winners of the day on a 5.56% rise to $159.6231 while, food outlet Simbisa was 4.51% firmer at $229.6720. The duet in blue chips of Simbisa and Econet contributed a joint 75.9% of the day’s turnover. Activity aggregates improved in the session as turnover ballooned 284.61% to $2.89bn as volume of shares traded leapt 608.76% to 36.51m shares. Other gains were recorded in General Beltings that added 1.46% to settle at $1.5745 as retailer OK Zimbabwe grew 1.35% to close at $28.0053. Dairy processor Dairiboard Zimbabwe completed the top five list as it inched up 0.42% to $28.4000. Zimre Holdings was the worst performer of the day after retreating 14.71% to $3.6100, trailed by insurer First Mutual Holdings that shed 13.49% to $16.9136. Zimplow trimmed 6.82% to $19.1374 while, media concern Zimpapers dropped 5.40% to close at $5.0142. Cement manufacturer Lafarge capped the top five fallers of the day on 3.69% slip to $120.3846. The market closed with a negative breadth of three as eleven counters gained against fifteen that declined. The market recorded marginal gains in Tuesday’s session as the All-share Index advanced 0.61% to 16717.10pts while, the ZSE Top Ten Index extended 1.67% to close at 10398.87pts. The Mid-Cap Index and the ZSE Agriculture Index lost 0.74% and 0.11% to end pegged at 32853.30pts and 93.69pts respectively. The Datvest ETF let go 0.14% to $1.5977 and Old Mutual ETF slumped 6.47% to $8.4100. The Cass Saddle, Morgan & Co MCS and the MIZ ETFs were stable at $1.4200, $28.5000 and $1.2500. There were no trades registered on the VFEX.