EFE Securities •

1 year ago •

Market Commentary

Market Comment - 05.05.2023

Bullish sentiment prevails... The market ended the week in the black as the All-Share Index jumped 10.54% to 49689.11pts while, the Blue-Chip Index surged 12.08% to 29541.33pts. The Agriculture Index grew 6.44% to 198.49pts while, the Mid Cap Index rose 6.15% to 99331.49pts. The trio of Masimba, Delta and Meikles Limited headlined the gainers’ pack on a similar 15.00% uplift to settle at $253.0000, $976.8000 and $488.1869 respectively. Sugar producers, Hippo Valley advanced 14.99% to $914.2500 while, telecoms giant Econet added an identical 14.99% to close the day pegged at $379.1834. Star Africa led the laggards of the day on a 0.03% drop to $2.2993 while, Seed Co Limited lost a negligible 0.001% to $200.0000. The market closed with a positive breadth of seventeen after nineteen counters recorded gains against two that lost their grip. Activity aggregates were mixed in the session as volumes traded succumbed 26.90% to 6.43m shares while, value outturn soared 55.77% to $1.49bn. The top volume and value drivers of the day were Seed Co Limited and Econet that claimed a shared 84.52% of the former and 94.30% of the latter. On the ETF section, the Datvest ETF was top gainer as it surged 13.16% to $2.5000 while, the Old Mutual ETF rose 6.18% to end at $9.5524. MIZ ETF shot up 4.85% to $2.0969 while, the Cass Saddle edged up 2.44% to $2.1000. Cumulatively, 726,410 units worth $6.43m exchanged hands in the five ETFs. A total of 412,279 units exchanged hands on the Tigere REIT as it stepped up 0.09% to $50.3154.