Market Comment - 26.10.2022

All share Index rises further ... The bourse saw modest gains in the mid-week session as the primary All share Index edged up 0.53% to 14722.93pts while, the Blue-Chip Index advanced 1.04% to 8722.19pts. Contrastingly, the ZSE-Agriculture Index slipped 0.24% to 75.39pts while, the Mid-cap Index fell 0.65% to 32060.44pts. Zimplow Holdings led the gainers’ pack on a 11.25% jump to end pegged at $17.8000 while, Axia ticked up 6.58% to $68.8886. Star Africa surged 6.55% to $1.8100 trailed by Willdale Limited that rose by 6.52% to $2.9000. Capping the top five winners’ list was Simbisa on a 6.18% uplift to settle at $241.2625. Art Holdings headlined the laggards of the day on a 14.49% decline to $15.0500 followed by hotelier African Sun that trimmed 7.49% to $22.0000. Ariston Holdings slid 4.76% to $4.0000 while, retailers Ok Zimbabwe lost 3.88% to end pegged at $31.5749. Tea producers, Tanganda completed the losers’ set on a 3.57% slump to end the day at $81.0000. Five counters lost ground against seventeen that gained, resulting in a positive market breadth of twelve. Activity aggregates were mixed in the session as turnover slipped 20.15% to $203.41m while, volume traded grew 17.32% to $4.79m. First Capital, Proplastics and Ariston contributed a shared 65.71% of the total volumes traded. Innscor, Simbisa, Proplastics and Econet were the top value drivers of the day after claiming 16.02%, 14.45%, 13.92% and 12.61% accordingly. Padenga was the sole trader on the VFEX as it dipped 15.53% to USD$0.2703 on 92518 shares. Datvest ETF recorded a 1.17% lift to $1.7300 while, Cass Saddle ETF added 0.37% to $1.874. MIZ ETF, MORGAN ETF and the Old Mutual ETF declined 0.23%, 0.47% and 0.02% to close at $1.0600, $21.2500 and $5.4999 apiece.