Market Comment - 27.04.2022

ZSE stretches gains in mid-week session... The market continued to stretch gains in the mid-week session as demand for selected counters continued to soar. The All-Share Index advanced 2.17% to end pegged at 29440.85pts while, the Industrial Index surged 2.08% to close at 97098.66pts. The Top Ten Index jumped 2.05% to 19558.84pts lifted by gains in Ecocash, Innscor and Simbisa while, the Mid-cap Index rallied 2.46% to close at 48170.97pts. The winning pack was headlined by Zimpapers that surged 19.62% to $5.0000 while, RioZim jumped 19.10% to end pegged at $169.6000. Bankers Nmbz advanced by 18.86% to close at $31.3000 trailed by Art that rose 17.10% to $28.3074. Medtech class A capped the top five risers of the day on a 12.00% uplift to $22.4000. Losses were recorded in Medtech class B which lost 19.12% to $27.5000 followed by tea producer Tanganda which slipped 1.42% to end at $336.1719. The third position was held by Willdale that eased 1.39% to close at $3.8394 while, hotelier African Sun completed the laggards of the day after trimming 0.68% to end the day at $13.3600. Activity aggregates declined in today’s session as turnover slumped 25.69% to $1.29bn while, volume traded declined 93.92% to see 6.53m shares exchange hands. Edgars and Econet anchored the volume aggregate of the day as the duo claimed 28.18% and 14.18% of the total volumes traded. Value drivers of the day were Econet, Innscor, Hippo, SeedCo and Delta which contributed a combined 79.76% of the outturn. On the VFEX, Padenga rose 0.71% to USD$0.2125 while, Bindura shed 4% to trade at USD$0.0480. The ETFs registered gains as the Old Mutual ETF put on 3.17%, Morgan & Co ETF edged up 1.62% and the Datvest ETF surged 15.84%. A total of 938,778 units worth $8,52m exchanged hands in the three ETFs.