Market Comment - 28.01.2022

Econet highlights the session... Telecoms giant Econet highlighted the penultimate trading session as 1.30m shares worth 127.82m exchanged hands in the counter and closed at $97.9773, having traded an intraday high of $100.0000. The trade accounted for 55.26% of the total volumes and 73.47% of the value aggregate. The other notable volume driver of the day was OKZIM with a contribution of 14.68%. Activity aggregates were mixed as seen in volumes traded that shed 22.81% to 2.37m shares while, turnover grew 36.69% to $174.45m. The primary All Share Index and the Industrials gained a similar 0.14% to close at 12120.10pts and 40061.16pts respectively. The Blue-chip Index was up 0.10% at 7864.28pts. General Beltings was the top riser of the day on a 16.89% surge to close at $1.9003. Trailing was Mashonaland which extended 14.72% to $2.3000 while, Dairibord advanced 7.37% to $37.6000. TSL improved 6.67% to $80.0000. Logistics group Unifreight led laggards of the day on a 10.45% plunge to $30.0000 while, financial services group ZB retreated 8.03% to $73.0000. Zimplow slipped 7.08% to $20.4427 while, construction group Masimba slid 6.10% to $45.0735. Property concern FMP capped the shakers of the day after a 5.36% loss to $7.0031. Forty-two counters were active in the session disseminated into twenty-one risers, seventeen losers and four that sailed stable. On the VFEX, a scrappy 717 shares exchanged hands in Padenga at a steady price of USD$0.2100. Morgan and Co ETF rose 10.35% to $14.4629 on 20,772 units while, Old Mutual ETF added 8.82% to end at $7.6450. Local purchases accounted for 99.71% of turnover while, sales claimed 92.34% of the same.