EFE Securities •

1 year ago •

Market Commentary

Market Comment - 02.06.2023

ZSE in gains in week-ending session... The ZSE continued in gains in Friday’s session as mid cap counters lifted the market. The ZSE All-Share Index put on 1.03% to 112,615.44pts while, the Blue-Chip Index added 0.02% to close at 67,504.61pts. The ZSE Agriculture Index advanced 4.65% to 438.95pts while, the Mid Cap Index rose 4.385% to 220,449.67pts. CBZ and CFI topped the winners of the day for the second consecutive session with an identical gain of 15.00%. Financial services group ZB surged 14.99% to $367.0000 as SeedCo Limited garnered 14.96% to settle at $1,282.2856. Conglomerate Meikles extended 14.91% to $1,348.0000. Leading the losers of the day was telecoms giant Econet which dipped 14.89% to $763.9387 while, Zimplow parred 9.88% to $75.0133. Agriculture concern Ariston shed 9.17% to $16.0835 as Getbucks retreated 0.69% to end pegged at $32.5000. RioZim capped the group on a 0.57% decline to $280.0000. Volume of shares traded ballooned 371.60% to 14.72m while, turnover leapt 250.37% to $6.75bn. Volume leaders of the day were Zimplow and Econet that claimed 47.80% and 38.41% respectively. Value leaders were Econet, Delta and SeedCo Limited that accounted for a combined 89.31%. Morgan and Co MCS was the top gainer amongst the ETFs with a 14.97% surge to $89.1000, trailed by Datvest MCS which grew 14.96% to $6.6300. Cass Saddle went up 1.22% to $3.4486. The Old Mutual ETF let go 1.39% to $24.5280. Cumulatively, 704,743 units worth $10.95m traded in the four ETFs. The Tigere REIT improved 1.95% to $129.2268 on 501,788 units.