EFE Securities •

1 year ago •

Market Commentary

Market Comment - 09.05.2023

Turnall anchors the volume aggregate... Turnall emerged the major volume driver of the day as 51.69m shares representing 10.48% of the total issued shares exchanged hands. The trade accounted for a gigantic 89.18% of the total volume traded. Delta was the top traded counter by value claiming 66.00% to the outturn. The other notable value drivers were Econet (13.09%) and Turnall (11.79%). Activity aggregates traded mixed as volumes tumbled 73.50% to 59.04m while, value outturn soared 197857.97% to $3.39bn. The market enjoyed a positive breadth of nineteen as twenty-two stocks firmed up against three that lost pace. The trio of First Mutual Properties, Tanganda and Meikles gained a similar 15.00% to close at respective prices of $27.6000, $482.9966, and $645.2000. Sugar producer Hippo Valley Estates followed on a 14.81% surge to $1,158.5968 as beverages giant Delta capped the top five winners of the day on a 14.35% jump to $1,284.5129. The top three fallers of the day were led by Willdale that dropped 2.36% to settle at $3.8869. Banking group CBZ retreated 0.97% to $311.9333 while, media entity Zimpapers shed 0.03% to end pegged at $5.9800. The primary All-Share Index advanced 9.80% to close at 59355.89pts while, the ZSE Top 10 Index rose 12.11% to 36506.16pts. The ZSE Agriculture Index was 6.37% stronger at 222.29pts while, the Mid-Cap Index added 2.33% to finish at 106191.27pts. The ETFs traded a cumulative 1.08m units worth $10.75m. Datvest grew 14.80% to $2.8700, MIZ gained 14.61% to $2.2400, and the Old Mutual ETF ticked up 4.90% to $10.0694. The Tigere REIT improved 0.31% to $50.6144 as 1.07m units worth $54.21m traded.