EFE Securities •

1 year ago •

Market Commentary

Market Comment - 09.06.2023

ZSE remains firm in week-ending session.. The ZSE remained firm in Friday’s session with the mainstream All Share Index advancing 4.84% to 175,785.58pts. The Blue Chips Index edged up 5.41% to 110,293.27pts while, the ZSE Agriculture Index put on 3.45% to 650.16pts. The Mid Cap Index rose 2.68% to end pegged at 293,876.79pts. Banking group CBZ gained 15.00% to close at $2,139.0000 on scrappy 200 shares while, Edgars extended 15.00% to $86.2500. Agriculture concern CFI charged 15.00% to $1,465.35 as tea company Tanganda closed 15.00% higher at $1,681.9500. Conglomerate Meikles jumped 15.00% to settle at $2,338.0652 having traded an intraday high of $2,338.1000. Losses were seen in Dairiboard that dipped 11.23% to $490.0000, Star Africa which declined 7.85% to $5.6764 and SeedCo Limited that slid a negligible 0.0001% to $1,871.5987. Volumes traded succumbed 52.87% to 18.45m shares while, turnover tumbled 52.43% to $9.47bn. Volume leaders of the day were First Mutual Holdings and Ecocash that claimed 70.14% and 10.02% apiece. Anchoring the value outturn was Delta, Econet and First Mutual Holdings with respective contributions of 55.08%, 15.34% and 10.05%. The Morgan and Co MCS was the top gainer amongst the ETFs as it surged 15.00% to $138.0000 trailed by the Datvest ETF that soared 14.10% to $9.5000. The Old Mutual ETF added 12.61% to $34.9676 while, Cass Saddle was stable at $3.9600. The Tigere REIT jumped 11.15% to end pegged at $202.4198 as 672,600 units worth $136.15m exchanged hands.