Market Comment - 28.02.2022

ZSE caps the month in the black ... The market capped the month in the black to see all four major four indices in our review closing pointing northwards. The mainstream All Share Index rose 0.62% to 14990.42pts while, the Industrials added an almost similar 0.61% to 49561.26pts. The ZSE Top Ten Index went up 0.16% to 9953.27pts while, the Mid Cap Index put on 2.10% to 24567.08pts. Forty counters registered price movements as twenty-five gained against fifteen losers to see the market closing with a positive breadth of ten. BAT headlined the gainers’ pack on a 20% jump to close at $2846.2385, trailed by spirits and wines manufacturer AFDIS that surged 19.99% to $204.6500. Construction group Masimba advanced 15.32% to $52.9016 as property concern FMP hopped 13.06% to settle at $6.9540. Clothing retailer Edgars completed the top five winners of the day on a 12.84% uplift to $5.25000. Medtech was the top faller of the day after dropping 10.23% to $19.7500, followed by Axia that shed 5.26% to $58.2381. Insurance group FML trimmed 4.55% to end at $21.0000 while, retailer OKZIM slumped 4.08% to $31.1710. Cassava let go 3.95% to finish at $72.0351 as it capped the top five shakers of the day. Activity aggregates were depressed as reflected in volumes that stumbled 17.06% to 1.30m shares while, turnover succumbed 37.23% to $95.07m. Top volume drivers of the day were Delta, Star Africa, Meikles, Cassava and NMB with a combined contribution of 57.51%. Top value drivers of the day were Delta, Meikles and Cassava with respective contributions of 43.40%, 21.07% and 10.25% of the outturn. The Old Mutual ETF gained 7.20% to close at $10.6709 as the Morgan and Co ETF was marginally up 0.08% at $14.4540. A paltry 251 shares worth USD$52.71 exchanged hands in Padenga at an unchanged price of USD$0.2100.