Market Comment - 30.05.2022

ZSE mixed in the penultimate session... The ZSE traded mixed in the penultimate session of the month as heavy caps traded sideways. The All-Share Index gained 2.73% to 21504.66pts while, the ZSE Top Ten Index improved 4.24% to 14025.13pts. On the downside, was ZSE Agric Index that trimmed 5.36% to 120.62pts weighed down by National Foods and Tanganda while, the Mid -Cap Index shed 1.34% to 37086.85pts. Apparel retailer Truworths headlined the winners of the day on a 15% uplift to $2.0150. Trailing was telecom giant Econet that surged 12.35% to $207.6066 as Delta followed on a 8.50% rise to $346.8601. Conglomerate Innscor jumped 5.15% to $472.6653 having touched an intra-day high of $516.9000. Simbisa Brands completed the top five risers of the day on a 2.03% rise to close at a vwap of $220.0190. Tanganda was the worst faller of the day as the tea company dipped 10.32% to $245.0349 while, National Foods dropped 8.72% to $2,008.2707. Zimplow came off 8.16% to $19.2868 as brick manufacturer Willdale let go 7.16% to $2.9714. Turnall held the fifth position on the shakers’ table after retreating 7.08% to $4.0000. Fallers outweighed gainers by a count of four leaving the market with a negative market breadth. Volumes traded improved 13.80% to see 2.58m shares worth $603.91m exchange hands on the bourse. Volume and value drivers of the day were Simbisa, Econet and Innscor with a combined contribution of 65.71% of the volumes traded and 73.37% to the turnover. On the VFEX market, nickel miner Bindura succumbed 19.85% to $0.0315 while, Padenga advanced 0.89% to $0.2255. The Datvest and the Old Mutual ETFs rose 0.04% and 2.23% to close at $1.9604 and $9.9455 apiece. Morgan and Co ETF slipped 3.35% to end pegged at $23.1970.