EFE Securities •
1 year ago •
Market Commentary
MARKET COMMENT 09.10.2023
Market records marginal gains in week opener…
The ZSE recorded marginal gains in Monday’s session as all the four indices we review closed pointing northwards. Turnover on the VFEX outstripped value traded on the ZSE by USD$47,266.66 highlighting depressed activity on the ZWL$ denominated bourse. Activity aggregates faltered in the session as volume traded fell 74.97% to see 961,951 shares worth $455,57m exchanged hands. This represented a 48.95% declined in turnover. The trio of Edgars, Econet and Delta drove the activity aggregates of the day, claiming a combined 87.94% of the volume and 98.33% of the value traded.
The All-Share Index was 0.38% up at 131,814.26pts while, the Blue-Chip Index firmed up 0.29% to close at 59,055.84pts. The Agriculture Index put on 0.23% to 517.49pts while, the Mid-Cap Index added 0.61% to end the day pegged at 519,790.91pts. Banking group CBZ led the gainers list of the day as it garnered 15.00% to close at $1,240.1000 with no offers while, Nampak surged 13.99% to $326.0000. Seed producer SeedCo Limited gained 5.76% to close trading at $600.0000 while, roofing material producer Turnall Holdings Limited closed at $26.7800 following a 3.40% ascent. Zimre Holding Limited fastened the winners of the day as it put on a mere 0.02% to $90.1000.
Apparel retailer Edgars led the laggards of the day after plunging 12.74% to end at a VWAP of $89.5264 while, bankers FBC eased 10.11% to $800.0000. Tea producer Ariston shed 7.47% to $31.5235 while, brick producer Willdale retreated 1.08% to settle at $10.0000. Telecommunication giant Econet continued to lose its glitter as it declined 0.87% to end trading at $471.4673. In the ETF category only, two funds registered price movement as 56,440 units worth $573,079.28 traded in the session. The Datvest Modified consumer Staples was 13.83% higher at $7.9000 while, the Cass Saddle agriculture ETF put on 0.38% to $7.2473. The Tigere REIT dropped $0.0100 to close trading at $230.0008.