Market Comment - 29.11.2022

Market records modest gains ... The market recorded modest gains in the penultimate session of the month of November. The Blue-Chip Index was the top gainer amongst the indices as it ticked up 2.45% to 8485.23pts. The primary All share Index inched up 1.90% to 14509.78pts while, the Mid Cap Index rose 0.97% to 32669.91pts. The Agriculture Index added 0.86% to end at 72.71pts. Mashonaland Holdings headlined the gainers of the day after a 14.98% jump to trade at $17.8000 followed by Zimpapers that surged 7.69% to settle at $2.8000. Conglomerate Innscor advanced by 7.52% to $344.6042 while, cigarettes manufacturer BAT climbed 5.26% to close pegged at $3100.0000. Ariston Holdings completed the winners of the day on a 3.68% uplift to $3.6273. Milk Processors Dairibord led the laggards of the day on a 7.41% drop to $41.6667 while, Proplastics dropped 4.13% to end the day at $25.0000. First Mutual Properties slipped 2.44% to $10.0000 while, sugar producers Hippo Valley capped the losers pack on 0.48% slump to $200.0404. Activity aggregates were mixed in the session as turnover edged up 8.45% to $71.86m while, volumes traded plummeted 5.12% to 0.84m shares. Mashonaland Holdings, Delta, Star Africa, and Axia were the top volume drivers of the day as they contributed 30.46%, 30.13%, 17.96% and 8.89% respectively. Delta, Axia, Mashonaland Holdings and Ecocash contributed a combined 95.78% to the value outturn. Seed Co International dipped 13.82% to USD$0.3100 on 1,600 shares while, Padenga was stable at USD$0.2300 as 500 shares traded in the name. The ETFs traded mixed with three trading in red against a sole gainer. The MIZ ETF soared 13.40% to $1.3740 as Old Mutual ETF, Datvest ETF and Morgan ETF lost 10.79%, 9.84% and 0.79% to $5.3861, $1.5327 and $20.8333 accordingly.