Market Comment - 30.11.2022

ZSE records gains in month-ending session... ZSE capped the month of November in the positive territory as heavy and midcap counters sustained the market. The mainstream All Share Index extended 0.47% to 14577.46pts as the Top Ten Index grew 0.12% to 8495.75pts. The Mid-Cap Index improved 0.67% to 32888.85pts while, the Agriculture Index was the only faller amongst its kind trimming 0.56% to 72.30pts. Mashonaland Holdings led the winners of the day on a 12.36% jump to $20.0000 as its YTD gains widened to 150%. Banking group NMB followed on a 12.04% surge to close $29.9713 while, agriculture concern Ariston rose 10.23% to $3.9982. First Capital edged up 7.56% to $10.2822 following the announcement that its leased property, Kingdom Hotel a subsidiary of African Sun will cease operations on the 5th of January after a lease dispute. Delta which is now trading ex-dividend capped the top five risers of the day after putting on 1.30% to $235.2601 having traded a high of $240.0000 in the session. The worst performer of the day was OKZIM that retreated 6.01% to $28.1018 trailed by Dairibord which shed 4.08% to $39.9656. Tea company Tanganda slipped 2.66% to settle at $81.1159 as cigarette manufacturer BAT let go 1.62% to $3,049.6667. Fintech group Ecocash capped the top five shakers of the day on a 1.05% fall to $34.9545. Volume of shares traded ballooned 553.75% to 5.48m while, market spend garnered 164.96% to $190.41m. NMB was the top volume and value driver with respective contributions of 60.87% and 52.66% in that order. Other notable volume drivers were Star Africa and Econet which claimed a combined 27.21%. On the VFEX, Padenga added 0.22% to end at USD$0.2305 as SeedCO International ticked up 0.77% to USD$0.3124. A total of 195,873 shares worth USD$45,202.12 exchanged hands on the VFEX. Four ETFs traded in the positive today, with Datvest MCS leading the way after gaining 10.80% to end pegged at $1.6983. Old Mutual ETF, MIZ and Morgan and Co MCS trailed with gains of 1.10%, 0.44% and 0.03% in that order. Meanwhile, Tigere REIT listed on the ZSE today, trading will commence tomorrow.