EFE Securities •
1 year ago •
Market Commentary
Market Comment - 05.04.2023
All Share Index in negligible gains... The market continued to show signs of weakness in Tuesday’s session as the mainstream All Share Index gained a negligible 0.11% to close at 38349.31pts. The Mid Cap Index put on 0.75% to end at 77322.65pts. The Blue Chips Index retreated 0.07% to 22721.02pts while, the ZSE Agriculture Index shed 0.15% to 145.45pts. RTG headlined the winners of the day as it extended 7.14% to $15.0000 followed by financial services group ZB that jumped 6.53% to $106.5250. Banking group First Capital grew 3.86% to $31.3135 as Proplastics edged up 3.18% to $100.0256 post the release of its FY22 results. CBZ capped the top five winners of the day on a 3.05% lift to $183.6500.Partially offsetting today’s gains were losses in Turnall that dipped 14.29% to $6.0000, followed by brick manufacturers Willdale that tumbled 12.91% to $3.5289. ART declined 1.73% to $28.9522 as Dairiboard trimmed 1.49% to $97.1667.NMB completed the top five fallers’ pack on a 1.48% retreat to $60.0500. Volumes traded succumbed 19.58% to 4.25m shares to yield a turnover of $903.80m which was a 20.17% dip from prior session. Anchoring the value aggregate was Hippo, Econet, Delta and OKZIM that claimed a combined 91.68% of the value outturn. Volume drivers of the day were OKZIM(37.31%), Econet (28.47%), Hippo (11.68%) and Ecocash (10.05%). Axia let go 1.43% to USD$0.1035 while, Nedbank slipped 0.43% to $10.8533.Innscor slid 0.38% to USD$0.6475 on 50 shares. Gainers on the VFEX were National Foods, Simbisa and Padenga with respective gains of 0.52%, 0.31% and 0.28%. The top faller amongst the ETFs was MIZ that lost 8.39% to $1.9329 trailed by, Morgan and Co MCS which eased 4.84% to $29.5003. Cass Saddle slid 2.27% to settle at $2.0524 as Old Mutual went up 5.27% to $9.9946. A total of 2.28m units worth $62.39m traded in 5 ETFs as Morgan and CO MCS accounted for 91.21% of the ETF units traded and 98.31% of the turnover. The Tigere REIT fell 0.18% to $50.0000 on 4,500 units.