EFE Securities •

1 year ago •

Market Commentary

Market Comment - 03.02.2023

Stellar performance in week-ending trades ... The market ended the week in the black as gains were registered across the board. The mainstream All Share Index improved 4.77% to 24782.89pts while, the ZSE Top Ten Index firmed up 5.65% to 15222.34pts. The Mid-Cap Index rose 2.67% to 50707.50pts while, the ZSE Agriculture Index went up 0.99% to 104.81pts. Logistics group Unifreight headlined the day’s winners after surging 14.12% to $59.0000, trailed by hotelier African Sun that garnered 11.84% to $36.0000. ART rallied 11.11% to end the session at $20.0000 as packaging group Nampak edged up 10.66% to trade at $14.0000. Zimpapers capped the top five risers on a 10.57% jump to $3.8000. Spirits and wines manufacturer AFDIS led the decliners of the day on a 1.16% retreat to $259.9531 as General Beltings shed 0.14% to $1.7002. Meikles receded 0.10% to end pegged at $158.0000 as SeedCo Limited completed the fallers’ pack having trimmed 0.07% to $218.0000. The market closed with a positive breadth as gainers outweighed fallers by a count of seventeen. Volume of shares traded plummeted 80.17% to 2.35m while, turnover plunged 80.14% to $513.99m. Volume leaders of the day were Axia, OKZIM, Econet, Innscor and Hippo that accounted for a combined 82.21%. Anchoring the value aggregate were Innscor, Hippo, Axia, Delta and Econet with respective contributions of 37.84%, 20.79%,13.19%, 12.58% and 9.21%. On the VFEX, Simbisa put on 0.02% to USD$0.4315 on 1,405 shares while, Padenga was stable at USD$0.2875 on 79,122 shares. Four ETFs registered price movements as Cass Saddle and Old Mutual ETF improved 4.70% and 1.67% to $2.2500 and $7.8478 while, Datvest MCS and MIZ let go 1.87% and 0.32%. A total of 36,240 units worth $69,958.70 exchanged hands in the ETF section. The Tigere REIT was unchanged at $50.6200 as 23,841 units traded. Elsewhere, CFI released its FY22 results in which revenue jumped 39.51% to $49.37bn while, a loss of $4.13bn was recorded.