Market Comment - 28.12.2021

ZSE gains persist in new week... The market continued on a positive trajectory in the holiday shortened week as three benchmark indices in our review closed pointing northwards. The primary All Share Index put on 2.30% to close at 10123.44, breezing past the 10000pts mark. The Blue-Chip Index extended 2.36% to 6275.51pts while, the Industrials went up 2.32% to close at 33429.42pts. The top winner of the day was retailer OKZIM which jumped 18.60% to settle at a vwap of $25.1638. Trailing was life assurer Fidelity that gained 14.10% to $14.8328 with packaging group Nampak advancing 10% to $11.0000. Telecoms giant Econet rose 6.55% to settle at $84.1870 as Star Africa capped the top five risers’ pack on a 5.66% improvement to $1.2710. Zimpapers was the major casualty of the day after succumbing 3.02% to $2.9093, followed by General Beltings that eased 2.37% to $1.9519. Agriculture concern Ariston retreated 0.76% to $3.7195 as Zimre Holdings shed 0.44% to $3.5817. Zimplow completed the top five shakers of the day on a 0.10% loss to $23.9756. The market registered a positive breadth of seventeen as twenty-five gained against eight losers. Activity aggregates of the day remained depressed with volumes declining 29.43% to 1.88m shares while, turnover tumbled 25.16% to $93.62m. Volume leaders of the day were Cassava, Star Africa, OKZIM and Meikles which claimed a combined 66.77%. Anchoring the value aggregate were Meikles (26.72%), Cassava (17.51%), Innscor (14.14%), Delta (11.20%) and Hippo (10.15%). No trades were recorded on the VFEX while, the Old Mutual ETF plunged 11.41% to $4.4102 on 85,766 units worth $378,242.30.