EFE Securities •

11 months ago •

Market Commentary

Market Comment - 02.08.2023

records marginal gains ... The market recorded marginal gains in the mid-week session as the primary All Share Index grew 1.23% to 118,994.78pts while, the Blue-Chip Index stepped up 2.02% to 54,351.16pts. On the contrary, the Agriculture Index slipped 0.35% to 617.89pts as the Mid-Cap Index declined 0.10% to 447,272.67pts. OK ZIM headlined the gainers of the day on an 8.15% jump to close at $119.9923 while, fintech group Ecocash Holdings surged 6.77% to end the day pegged at $129.1967. Beverages giant Delta edged up 5.54% to $1802.5090 while, Turnall Holdings climbed 5.37% to $3.4773. Brick manufacturer Willdale capped the winners’ list on a 2.13% uplift to close at $18.8934. Milk processors, Dairibord led the laggards of the day on a 4.64% drop to $362.3529, trailed by CBZ Holdings that lost 3.93% to $870.3750. Telecoms giant Econet trimmed 3.75% to close the day at $500.5323 while, Zimre Holdings shed 0.52% to $64.0000. Star Africa completed the top five losers’ pack on a 0.46% slid to $5.0000. The market closed with a positive breadth of one after eleven stocks gained the ground against ten that declined. Activity aggregates were depressed in the session as volumes plunged 64.71% to 1,41m shares while, the value outturn succumbed 76.12% to $775.59m. Econet and Masimba were the top traded counters by volume and value as the duo claimed a combined 88.73% of the former and 90.60% of the latter. In the ETF section, the duo of Cass Saddle and MIZ ETF traded flat at $6.4100 and $5.5000 respectively. The Morgan & Co MCS ETF fell 15.00% to close at $167.4500 while, the Datvest ETF retreated 5.74% to $8.0000. The Old Mutual ETF was the sole winner after it firmed up 1.97% to $23.9494. The Tigere REIT advanced 0.20% to $200.3999.