EFE Securities •
1 year ago •
Market Commentary
Market Comment - 02.03.2023
ZSE slips into the red in Thursday's session... The market retreated in the penultimate of the week weighed down by heavy cap counters. The All-Share Index retreated 0.23% to 29232.73pts while, the Blue-chip Index was 0.43% weaker at 17077.27pts on the backdrop of losses in CBZ. The Agriculture Index was down 0.42% to 124.06pts while, on the contrary the Mid-Cap Index was the only gainer amongst its kind as it recorded marginal gains of 0.03% to end the day pegged at 64043.41pts. Paper manufacturer ART led the laggards of the day as it slipped 5.88% to $20.0000. Banking duo in CBZ and First Capital dropped 5.34% and 4.70% to settle at $147.0824 and $18.0001 respectively. Tea producer Tanganda eased 1.62% to trade at $255.7375 while, Hippo capped the top five losers of the day as it trimmed 1.32% to $500.0000. Partially mitigating the losses were Bridgefort Capital that garnered 15.00% to close at $9.2000, trailed by mining concern RioZim that advanced 14.64% to $184.0000. Brick maker Willdale closed 13.91% higher at $3.1000 while, apparel retailer Edgars climbed 11.87% to $15.1022. Financial services group ZB fastened the top five risers of the day on a 1.77% gain to $115.0000. Activity aggregates improved in the session as volumes traded ballooned by 872.95% to see 15.26m shares worth $2.01bn exchange hands recording a 140.26% increase in turnover. Blue Chips duo of Delta and Econet stole the show claiming a combined 80.56% of the value traded. Econet, Nampak, First Capital, Delta and NMB were the top volume drivers with respective contributions of 20.84%, 16.11%, 13.70%, 13.51% and 13.20%. The ETFS traded in the negative territory in the session as the Old Mutual Top 10 dropped 6.05%, Morgan & Co Multi Sector fell 2.23%. Datvest MCS and Morgan & Co Made in Zim were 1.13% and 0.31% weaker while, Cass saddle was flat at $2.1000. Elsewhere, the VFEX All-Share Index added 0.45% to close pegged at 105.8223pts buoyed by gains in Simbisa and Padenga.