EFE Securities •

11 months ago •

Market Commentary

MARKET COMMENT 05.12.2023

ZSE swings back into the red…

The ZSE market reversed prior session’s gains to see the primary All Share Index dropping 0.34% to 191,185.20pts while, the Blue-Chip Index shed 0.97% to 81,293.96pts. The Agriculture Index fell 0.21% to 603.53pts while, the Mid Cap Index was the only gainer after putting on 0.91% to 842,538.58pts. Apparel retailer Edgars led the laggards of the day on a 11.79% retreat to close at $90.2485, followed by CBZ that dropped 7.83% to $1,990.9091. Tea producer Tanganda fell 3.16% to $957.7500 while, hotelier Meikles slipped 2.91% to $1,306.8947. Retailer OKZIM capped the top five fallers’ pack on a 1.33% slide to end the day pegged at $197.3305. Partially mitigating today’s losses was First Mutual Properties that firmed up 14.26% to $240.0000, trailed by Turnall Holdings that jumped 8.70% to close at $25.0000. Zimpapers climbed 7.18% to $26.7955 while, Ariston ticked up 6.38% to end the day pegged at $40.0000. General Beltings completed the top five winners list on a 3.64% uplift to $22.8000. The market closed with a positive breadth of one as eleven counters recorded gains against ten laggards.

Activity aggregates were mixed in the session as volume of shares traded rose 1.53% to 1.79m while, value traded succumbed 78.80% to $733.97m. The duo of Edgars and Econet dominated the volume traded, claiming 57.23% and 20.27% apiece. Delta, Econet and Edgars contributed a combined 88.06% to turnover. Foreign participation was net buyers in the session as purchases stood at $88.45m while, sales amounted to $10.22m. In the ETF section, a total of 54,198 units exchanged hands as the MIZ ETF surged 9.32% to settle at $9.5000 while, the OMTT ETF tumbled 3.78% to close at $31.7530. The Tigere REIT charged 7.50% to $300.0000 on 39,457 units.