EFE Securities •

1 year ago •

Market Commentary

Market Comment - 08.05.2023

Bulls charge in new week opener ... ZSE gains persisted in the new week as twenty-five bulls charged on two bears to set a positive breadth of twenty-three. The mainstream All Share Index jumped 8.79% to 54058.72pts while, the ZSE Top Ten Index advanced 10.22% to close at 32561.63pts. The Agriculture Index put on 5.28% to settle at 208.98pts while, the Mid-Cap Index rose 4.47% to 103771.89pts. Leading the winners of the day was lone miner RioZim and beverages group Delta that surged an identical 15.00% to end pegged at $230.0000 and $1,123.3000 apiece. VFEX bound First Capital garnered 14.99% to $41.5974 trailed by Meikles that extended 14.93% to $561.0577. Spirits and wines manufacturer AFDIS capped the top five winners of the day on a 14.90% lift to $563.0000. Two fallers of the day were Star Africa and Willdale that declined 0.69% and 0.48% as the former ended at $2.2835 while, the latter was at $3.9807. Activity aggregates remained mixed in Monday’s session as volumes traded ballooned 3366.67% to 222.79m while, turnover dropped 99.89% to $1.71m. The top volume drivers of the day were Star Africa, Econet, OKZIM and Ecocash that claimed a combined 88.78% of the aggregate. Turnover was anchored by Econet, Delta and Meikles with contributions of 50.16%, 10.54% and 10.35% apiece. The Morgan and Co MCS added 6.21% to $31.3308 while, the Old Mutual ETF slipped 0.48% to $9.5987. MIZ and Cass Saddle retreated 6.79% and 1.00% apiece. Cumulatively, 929,008 units worth $7.61m traded in the five ETFs. The Tigere REIT went up 0.29% to $50.4646 worth 15,635 units.