Market Comment - 30.03.2022

ZSE slips back into the red... The market slipped back into the red in midweek session, as the mainstream All-Share Index slid a negligible 0.01% to 15720.81pts while, the Industrial Index dropped a similar 0.01% to 51949.59pts. The Top Ten Index fell 0.11% to 10400.17pts as the Mid-Cap Index was the sole gainer, after rising 0.27% to 25871.98pts. General Beltings Holdings led the day's fallers on a 7.53% drop to $1.2588, followed by Zimre Holdings Limited which retreated 6.37% to $4.1016. ART holdings shed 4.99% to $19.0030 while, cement manufacturer Lafarge trimmed 3.85% to end pegged at $125.0000. Apparel retailers Edgars tripped 2.83% to $5.4588 and completed the top five losers set. Banking institution First Capital topped the gainers' pack on a 14.06% rise that took it to $4.5006 whilst, Zimplow Holdings went up 9.68% to close at $19.7429. Brick maker Willdale was up $8.26% at $2.8194 while, cable manufacturer Cafca advanced 5.88% to $180.0000. Capping the top five winners of the day was Turnall which ticked up 4.34% to $4.8000. Volume of shares traded dipped 17.47% to 7.57m, while turnover enhanced 152.73% to $399.02m. FBC Holdings grabbed a sizable slice of the market, accounting for 66.06% of total volumes traded, leaving the other counters scrambling for the remaining 33.94%. Top value drivers of the day were Fbc Holdings Limited (45.10%), Innscor (19.76%), Delta (6.12%) and Econet (6.06%). Bindura fell 17.90% to USD$0.0500 while, Padenga, Caledonia, and SeedCo remained unchanged at USD$0.2100, USD$13.0000, and USD$0.2805 respectively. On the ETF, Datvest rose 2.92% to $1.8540 while, Morgan ETF improved 3.23% to $14.4753. The Old Mutual ETF shrunk 1.53% to $8.5901 as 2,630 units exchanged hands.