EFE Securities •

1 year ago •

Market Commentary

Market Comment - 01.06.2023

ZSE maintains gains into new month... The ZSE maintained gains into the new month as the bullish momentum continued to prevail on the bourse. The mainstream All-Share Index surged 6.01% to 111,472.57pts while, the Blue-Chip Index advanced 5.32% to settle at 67,489.32pts buoyed by CBZ and SeedCo. The Mid-Cap Index was 8.41% firmer at 211205.84pts while, the Agriculture Index added 7.25% to 419.43pts. Headlining the gainers was the duo of CBZ and CFI that garnered a similar 15.00% to see the former settle at $925.1500 and the latter at $1073.5500. Seed manufacturer SeedCo buttressed prior sessions gains as it jumped 14.99% to end at $1115.4173 while, cable manufacturers Cafca trailed behind with an identical 14.99% gain to close at $502.5500. Banking group ZB capped the top five winners of the day on a 14.99% gain to $319.1500. Only listed mining concern RioZim led the laggards of the day as it dropped 2.90% to $281.5948, followed by agriculture concern Ariston that eased 1.58% to $17.7068. Plastic manufacturer Proplastics closed at $380.0001 after losing 0.77%. Retailer OKZIM trimmed a negligible 0.07% to end pegged at $201.0536 while, beverages giant Delta was 0.0033% weaker at $2342.0794 as it capped the top five worst performers of the day. Activity aggregates recovered during the session as volume of shares traded increased by 92.03% to 3.12m shares while, turnover ballooned 119.34pts to $1.93bn. Proplastics anchored the volume aggregate of the day as it contributed 64.14% while, Star Africa claimed 14.04%. The threesome of Proplastics, BAT and Delta claimed a combined 92.35% of the turnover. In the REITS category, Tigere REIT rose 6.95% to close at a VWAP $126.7613 as 4,000 units exchanged hands. In the ETF category, a total of three funds advanced against two that faltered. The Morgan & Co MCS gained 14.45% to close at $77.5000. Morgan & CO Made in Zimbabwe and Cass Saddle retreated 7.02% and 1.25% respectively.