EFE Securities •

7 months ago •

Market Commentary

Market comment 07.11.2023

Gains persist on the bourse…

The ZSE gains persisted into Tuesday’s session as the four indices under our review closed pointing northwards. The primary All Share Index edged up 1.48% to close at 170,207.41pts while, the ZSE Top Ten Index added 1.63% to 76,166.64pts. The Mid Cap Index and the Agriculture Index improved 1.18% and 0.07% to end at 674,602.15pts apiece. Leading the winners of the day was TSL that extended a further 15.00% to settle at $787.5500. Trailing was Willdale that garnered 11.67% to $26.8000 as CAFCA overturned yesterday’s losses to gain 10.00% and close pegged at $2,200.0000. CBZ charged 6.29% to settle at $2,072.7273 while, Ariston jumped 3.78% to end at $31.5500. SeedCo was the major casualty of the day as it dipped 14.83% to $860.1864. Ecocash followed on a 1.68% drop to $134.7000 while, Econet slid 0.15% to close at a vwap of $499.4260. Nampak capped the fallers of the day after retreating 0.07% to $335.0000.

Volumes traded rose 12.89% to 5.28m shares as OK Zimbabwe and Econet anchored the aggregate on respective contributions of 64.73% and 17.26%. Turnover jumped 55.50% to $2.44bn with Delta, OK Zimbabwe and Econet claiming a combined 93.01% of the outturn. Foreigners were net sellers in the session as outflows amounted to $176.48m were registered against  inflows of  $38.31m. Two ETFs registered price movements in the session as Morgan and Co MCS put on 6.05% to $286.0000 while, the Old Mutual ETF let go 0.93% to $34.6731. Datvest MCS claimed 84.66% of the total volume traded and 39.46% of the value aggregate. The Tigere REIT shed 2.01% to close at $240.0658 on 830,930 units worth $199.48m.