EFE Securities •

1 year ago •

Market Commentary

Market Comment - 07.02.2023

OKZIM anchors activity aggregates... Retailer OKZIM anchored activity aggregates in Tuesday’s session after 13.77m shares worth $662.22m exchanged hands. The trade accounted for 78.53% of volumes and 48.60% of turnover. Innscor was the other notable value driver of the day on a 28.38% contribution. Volumes traded ballooned 852.35% to 17.64m shares while, turnover surged 225.31% to $1.37bn. The market recorded a positive market breadth of twenty-two as twenty-four counters advanced against only two that faltered while, nine sailed stable. The trio of CFI Holdings, Bridgefort Capital Limited and Delta led the top five gainers of the day with a similar gain of 15.00% to close at respective prices of $494.5000, $9.2000, and $565.2000. Bankers First Capital soared 12.53% to $17.0684 as clothing retailer Truworths capped the top five gainers of the day on a 12.00% jump to $2.8000. On the downside, was property firm Mashonaland Holdings that dropped 7.94% to $8.0000 and brick manufacturer Willdale that slipped 0.20% to $2.9943. Foreign purchases declined 23.13% to $72.41mn while foreign sales surged 8.65% to $134.27mn. The ZSE’s bullish momentum persisted in the Tuesday session to see the All- Share Index jump 5.60% to 26658.62pts while, the Top 10 Index emerged 7.31% stronger at 16671.77pts. The ZSE Agriculture Index grew 1.74% to 108.78pts as the Mid-cap Index ticked up 1.33% to 52103.25pts. On the ETF section, a total of 1,466,031 units worth $3.86m traded in the four ETFs. The Old Mutual ETF added 3.39% to $7.9721 while, Datvest rallied 3.15% to $1.5733. Morgan & Co shot up 1.35% to $25.0000 as MIZ ETF stepped up 0.11% to $1.3014. The Tigere REIT was flat at $50.6200 on 105,154 units. On the VFEX, only two stocks registered trades in a session as 39,289 shares worth $10,993.45 exchanged hands . Simbisa gained 6.03% to USD$0.4241 while, Seed Co International traded was stable at USD$0.2695.