EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT 04.12.2023

ZSE takes a breather in week-opener…

The ZSE took a breather in the week opening session on the back of profit taking seen in selected counters across the board. As a result, the primary All Share Index slipped 0.20% to 191,844.90pts while, the ZSE Top Ten Index slid 0.30% to 82,088.5pts. ZSE Agriculture Index retreated 1.45% to end at 604.79pts while, the Mid Cap Index gained a negligible 0.01% to close at 834,904.81pts. SeedCo Limited led the laggards of the day on a 10.51% decline to $867.8491, trailed by Turnall that succumbed 7.63% to $23.0000. Ariston reversed prior session’s gains on a 3.20% loss to $37.6000 as tea company Tanganda tumbled 1.10% to $989.0000. Star Africa held the fifth position of the fallers’ table after dropping 0.53% to trade at $4.8025. Partially mitigating today’s losses were gains in retailer OKZIM that put on 2.53% to $200.0000. Following was Edgars that charged 2.31% to $102.3070 as NMB improved 1.32% to $502.0000. African Distillers added 0.37% to settle at $2,308.4615 while, telecoms giant Econet rose 0.08% to $729.8365.

Volume of shares traded enhanced 17.17% to 1.77m, yielding a turnover of $3.46bn which was a 46.64% uplift from prior session. Delta and NMB highlighted the volume and value aggregates of the day claiming a combined 81.45% of the former and 93.84% of the latter. The MIZ ETF gained 14.95% to $8.6900 while, the Morgan and Co MCS grew 13.95% to $490.0000. The Old Mutual ETF went up 3.09% to close at $33.0000. Datvest MCS was the sole faller amongst its kind as it trimmed 0.37% to $9.0000. A total of 21,965 units worth $575,165 exchanged hands in the five ETFS. The Tigere REIT traded 0.10% lower at $279.0625 on 1,600 units.