Market Comment - 28.07.2022

ZSE slips back into the red as Econet and Delta lead activity aggregates... The market reversed its prior sessions gains as the primary All Share Index retreated 0.82% to 16613pts while, the ZSE Top Ten Index eased 1.24% to 10271.70pts. The ZSE-Agriculture Index lost 0.24% to close at 93.17pts as the Mid Cap Index lost a marginal 0.02% to 33061.00pts. Topping the losers’ list was Zimplow Holdings that lost 8.50% to $19.0743, trailed by Zimpapers that trimmed 7.24% to $4.5918. Bankers FBC Holdings eased 7.14% to $65.0000 as fast foods group Simbisa went down 4.44% to $219.5092. Hotelier African Sun capped the top five laggards of the day on a 3.88% slump to $14.4182. Dairibord Holdings headlined the gainers pack on a 14.96% jump to close at $32.6500, followed by Turnall that surged 14.56% to $4.7000. Logistics concern Unifreight improved 13.87% to $43.5000 while, First Mutual Properties shored up 13.31% to $10.1978. Bankers First Capital capped the winners’ list for the day on a 12.11% lift to $11.0000. Activity was seen in thirty-six counters, distributed into twelve gainers, nineteen losers and five that traded unchanged, to leave the market with a negative breadth of seven. Activity aggregates were mixed in Thursday’s session as volumes dipped 72.63% to 9.99m shares while, turnover was up 6.66% to $1,73bn. Econet and Delta topped the value and volume aggregates claiming a combined 65.72% of the latter and 76.64% of the former. Innscor was the other notable value driver accounting for 11.92% of the outturn. Cass Saddle ETF added 5.63% to $1.5000 while, Datvest ETF grew 1.52% to $1.6003. Morgan and Company MCS lost 3.29% to $27.5637 while, MIZ shed 0.21% to close at $1.2474. The Old Mutual ETF suffered a 0.04% loss to $8.5000. On the VFX, Padenga gained 0.23% to close the day pegged at USD$0.3107 after 22,549 shares exchanged hands. Bindura slipped 10.71% to USD$0.0300 on 41,575 shares.