EFE Securities •

1 year ago •

Market Commentary

Market Comment - 07.06.2023

ZSE extends positive stride... Gains on ZSE stretched into the midweek session to see the primary All Share Index growing 7.39% to 146,132.91pts while, the Blue-Chip Index rose 7.85% to 89,508.46pts. The Agriculture Index ticked up 1.77% to 553.15pts while, the Mid Cap Index added 5.87% to 266,733.58pts. NMB, ZB Financial Holdings and BAT surged a similar 15.00% to settle at $132.2500, $555.4500 and $8,220.3000. Beverage giant Delta also jumped 15.00% to close at $3,620.1000 while, CBZ Holdings capped the top five gainers’ pack on a 15.00% uplift to end the day pegged at $1,617.3968. There were no laggards in the midweek session as all counters registered gains. Activity aggregates were depressed in the session as volumes traded declined 87.22% to 764,370 shares while, value outturn plummeted 74.73% to $1.15m. The volume leaders of the day were Mashonaland Holdings (57.71%) and Ecocash Holdings (12.86%). Delta, SeedCo Limited, Mashonaland Holdings and Econet were the top value drivers after the quartet contributed a combined 79.85% of the total. In the ETF section, Cass Saddle climbed 14.05% to $3.9600 while, the Datvest MCS advanced 10.18% to close at $7.4960. MIZ ETF and Morgan and Co MCS soared 14.80% and 10.61% to $4.4100 and $105.0953 respectively. The Old Mutual ETF gained 5.51% to end the day pegged at $27.5679. The Tigere REIT firmed 7.12% to settle at $160.1186 on 25,300 units.