EFE Securities •

8 months ago •

Market Commentary

MARKET COMMENT 03.11.2023

ZSE winning streak continue…

The ZSE ended the week in the black extending its rising streak to twenty-one days. The primary All Share Index rose 1.45% to 161,050.06pts while, the Blue-Chip Index added 1.84% to 71,537.08pts. The Mid-Cap Index improved 0.63% to 648,559.23pts as the Agriculture Index eased 0.10pts to 551.97pts. Headlining the top performers of the day was Zimre Holdings Limited that surged 10.63% to $123.9000, trailed by retailer OKZIM that garnered 6.93% to close at $161.6000. Brick manufacturer Willdale advanced 4.92% to $23.1757 while, beverages giant Delta inched up 3.97% to settle at $3,087.4090. Telecoms giant Econet capped the top five winners of the day on a 1.17% uplift to end the day pegged at $499.6371. On the downside was apparel retailer Edgars that lost 13.70% to $84.0083 while, RTG dropped 3.67% to land at $130.0000. Star Africa declined 2.16% to $4.8536 as Turnall trimmed 1.85% to close at $25.6658. Milk processor Dairibord completed the top five fallers of the day on a 1.83% slump to end the week at $539.9500. Bulls dominated in the session as ten counters charged against six that faltered to leave the market with a positive breadth of four.   

Activity aggregates enhanced in the session as volumes improved 1.47% to 2.41m shares while, value traded grew 87.12% to $1.01bn. The threesome of Edgars, Econet and NMB claimed a combined contribution of 88.68% of the volume aggregate. Top value drivers of the day were Econet (30.77%), Delta (28.43%) and NMB (23.20%). A total of 41,555 units exchanged hands in the ETF section. The Old Mutual ETF tripped 1.37% to $35.0137. The Tigere REIT climbed 0.30% to settle at $240.7311 as 29,831 units exchanged hands in the last session of the week.