EFE Securities •

1 year ago •

Market Commentary

Market Comment - 02.05.2023

ZSE resilient in month opener... The ZSE commenced the new month of May in the positive territory. The primary All-Share Index gained 2.92% to close at 42599.78pts while, the ZSE Top Ten Index advanced 3.30% to close at 24548.01pts. The Mid-Cap Index ticked up 1.92% to 93105.02pts as the ZSE Agriculture Index lost 0.15% to finish at 183.83pts. Masimba was the top riser as it soared 15.00% to $219.6500 while, First Mutual Properties followed on a 14.61% surge to $20.0560. Bankers CBZ firmed up 12.24% to $220.0000 as logistics firm Unifreight Limited gained 8.57% to $76.0000. Econet capped the top ten winners of the day on an 8.41% rise to $290.6837. Ariston led the fallers of the day on a 14.19% dip to end at $10.0698 while, ART Holdings trimmed 2.83% to $25.1011. Zimplow fell 1.37% to $36.0000 as milk producer Dairiboard retreated 1.15% to $140.4000. Property concern Mashonaland Holdings completed the top five decliners of the day after dropping 0.81% to $19.5018. The market registered a positive breadth of fifteen as twenty counters registered gains against five that lost ground. Activity aggregates were depressed in the session as volume traded plummeted 77.34% to 1.34m shares while, turnover plunged 92.01% to $152.89m. The value drivers for the session were Delta (34.81%), OKZIM (19.14%), Hippo Valley (16.87%), Econet Wireless (14.57%) and Ecocash Holdings (7.66%). In the volumes section, OKZIM contributed 37.44% of the volumes traded while, Ecocash Holdings claimed 12.38% of the same. A total of 140,092 units worth $904,234.20 exchanged hands in the ETF section. Morgan & Co MCS added 2.16% to end pegged at $30.1370 as Datvest improved 0.55% to $1.7616. On the losing side, there was Old Mutual ETF and MIZ that gave up 8.02% and 2.91% to $8.7344 and $2.0000 respectively. The Tigere REIT slipped 0.12% to $50.4502 after trading 8,677 units.