EFE Securities •

1 year ago •

Market Commentary

Market Comment - 10.01.2023

All share Index edges higher... Gains in selected heavies lifted the market in Tuesday’s session as the primary All Share Index edged up 1.12% to 21837.29pts while, the Top 10 Index went up 0.53% to 13849.96pts. The Mid Cap Index increased 2.74% to 80.87pts as the ZSE Agriculture Index surged 2.72% to 40973.95pts. Banking group FBC led the winners of the day after jumping 15.00% to $58.6500 followed by milk processor Dairiboard that grew 14.78% to $44.0000. Logistics concern Unifreight advanced 14.23% to $59.0000 as Mashonaland Holdings rose 14.03% to finish at $8.5000. Hippo Valley capped the top five risers’ set as it soared 13.63% to $250.0498. The worst faller of the day was Axia Corporation that dropped 3.51% to $99.9312 while, hotel firm African Sun fell 1.94% to $25.2500. Ecocash Holdings slid 1.78% to $58.7608 as sugar processor Star Africa retreated 1.26% to $2.0500. Conglomerate Innscor dropped 0.91% to settle at $700.6490. Activity aggregates were improved in the session as volumes went up 68.28% to 4.96m shares while, value outturn grew 31.09% to $526.42m. Value leaders of the day were Delta (27.21%), Innscor (14.75%), Econet Wireless (14.00%), Axia (10.29%) and OKZIM (9.66%). Top value drivers of the day were OKZIM, Proplastics, Econet and Axia that claimed a combined 58.44% of the aggregate. On VFEX, Seed Co International dropped 2.95% to USD$0.3290 on 15,019 shares. Simbisa and Padenga firmed up 17.29% and 3.45% to close at USD$0.6100 and USD$0.2845 respectively. On the ETF front, a total of 461,258 units worth $985,023.70. The Old Mutual ETF added 4.97% to $7.6309 while, Morgan & Co MCS stepped up 4.49% to $22.8654. Cass Saddle improved 2.78% to end at $1.8500 as Datvest ETF picked up 0.89% to $1.5134. The Tigere REIT ticked up 0.07% to $54.1467 as 1,206 units exchanged hands.