EFE Securities •
1 year ago •
Market Commentary
Market Comment - 06.04.2023
Mid-Cap counters lift the market... Mid-Cap counters anchored the market in the last trading session of the week ahead of the Easter holidays as the All-Share Index gained 0.07% to close at 38375.64pts. The Mid-Cap Index advanced 2.08% to 78928.41pts while, the Agriculture Index rose 1.40% to 147.49pts. On the contrary, the Blue-Chips Index closed in red as it dropped 0.59% to 22,587.87pts. Headlining the gainers of the day was apparel retailer Truworths that jumped 15.00% to settle at $3.1050 trailed by, Rainbow Tourism Group that soared 13.33% to $17.0000. TSL closed at $111.4286 following a 8.60% jump while, property concern Mashonaland edged up 6.87% to $14.0000. Banking group First Capital Bank fastened the top five best performers of the day on a 6.75% ascent to $33.4278. Zimre Holdings led the laggards of the day as it retreated 10.79% to $10.7053 followed by First Mutual Holdings that trimmed 6.82% to $20.5000. Telecommunication giant Econet shed 5.20% to $235.4560 post the release of a cautionary statement in which the group is considering proposals to call for an Extra Ordinary General Meeting for the purpose of considering a renounceable rights issue of new ordinary shares. Apparel retailer Edgars trimmed 1.92% to $25.5000 as Ecocash capped the top fallers of the day on a 1.89% slip to $66.6218. Volume of shares traded dipped 57.82% to 1.79m while, turnover tumbled 58.74% to $372.94m. Volume leaders of the day were NMB, Econet and Star Africa that claimed a combined 66.81% of the aggregate. Value outturn was anchored by Delta, Econet and Hippo that claimed 33.42%, 29.32% and 23.85% respectively. Four counters were active on the VFEX as a mere 2,313 shares traded. Gains were seen in Innscor that put on 0.36% to USD$0.6498 while, Bindura was stable at USD$0.0197. The duo of Axia and Simbisa eased 1.45% and 0.24% to settle at USD$0.1020 and USD$0.4200. Old Mutual ETF and Morgan Co ETF improved 9.25% and 5.08% apiece while, Datvest was stable at $1.8500.