EFE Securities •
8 months ago •
Market Commentary
MARKET COMMENT 01.11.2023
Econet propels today’s activity aggregates…
Econet propelled today’s activity aggregates as circa 7.07m shares worth $3.53bn exchanged hands in the session. The counter claimed 91.97% of the volume traded and 86.44% of the turnover. Beverages producer Delta was the other notable value contributor in the session as it claimed 10.66% of the total. All the ETFs were active in the session as 30,530 units worth $620,577.00 traded in the session, with four of the five funds registering price movements. Trading on the upside was Old Mutual Top Ten ETF that gained 1.86% to settle at $35.6500. The trio of Morgan & Co Made in Zimbabwe, Morgan & Co Multi Sector ETF and Datvest MCS declined 1.77%, 0.54% and 0.55% to close at $6.7898, $251.5930 and $7.2000 in that order. The Tigere REIT lost a negligible 0.0007% to settle at $238.0082 as 475,438 units traded.
Bulls dominated in the session as fourteen counters charged against eight that faltered to leave the market with a positive breadth of six. The threesome of NMB, AFDIS and TSL were the best performers of the day, gaining a similar 14.99% to $347.4000, $2,000.1500 and $595.5500 respectively. Conglomerate ART garnered 14.58% to end pegged at $55.0000 while, apparel retailer Edgars fastened the top five gainers of the day on a 14.47% charge to $97.3403. Partially weighing down the market was cigarette producer BAT that retreated 9.24% to $13,500.0000 in a single trade in which scrappy 200 shares exchanged hands. Agriculture concern CFI fell 9.10% to $2,000.0000 where demand could be found while, Meikles was 5.94% softer at $940.5959. Fintech group Ecocash lost 0.82% to $136.8200 despite having traded at a high of $137.5000 in the session. Sugar refiners Star Africa was 0.32% lower at $4.9733 as it capped the top five laggards of the day. The All-Share Index was 0.53% higher at 157,918.80pts while, the Mid Cap Index added 2.13% to 636,232.45pts. On the contrary, the Blue-Chip Index was 0.18% lower at 70,139.92pts while, the Agriculture Index parred of 1.15% to 551.16pts.