EFE Securities •
1 year ago •
Market Commentary
Market Comment - 10.02.2023
All Share Index reaches an all-time high... The mainstream All Share Index reached an all-time high of 29944.34pts, having gained 1.06% in today’s session, surpassing its previous highest level of 29440.85pts in 2022. The ZSE Top Ten Index put on 1.28% to 19085.82pts while, the Mid Cap Index rose 0.40% to 55596.86pts. The ZSE Agriculture Index was the sole faller amongst the indices as it came off 0.07% to 112.60pts. Banking group CBZ surged 13.79% to $165.0000, trailed by fintech group Ecocash that garnered 10.82% to $78.1978. Zimpapers jumped 8.75% to $4.3500 as apparel retailer Edgars soared 8.51% to $10.8500. Packaging group Nampak completed the top five risers’ list after a 7.83% uplift to $18.6000. Partially mitigating today’s gains were losses in RTG that succumbed 15.00% to $10.2000, following was Ariston that plunged 8.53% to $4.1238. Brick makers Willdale tumbled 8.52% to end pegged at $2.7214 as VFEX bound SeedCo Limited receded 3.49% to $230.8222. Completing the fallers’ pack was Mashonaland holdings that let go 1.29% to $7.0010. Activity aggregates were depressed in week-ending session as reflected in volumes that dipped 21.79% to 12.70m shares and turnover which plummeted 43.74% to $2.27bn. Volume drivers of the day were OKZIM (32.14%), First Capital (26.53%), Econet (17.75%) and Innscor (9.44%). Innscor, Econet and Hippo anchored the value aggregate on respective contributions of 43.02%, 21.70% and 14.70%. Simbisa was the only counter to trade on the VFEX as a paltry 70 shares traded at a stable price of USD$0.4300. Three ETFs recorded gains in the session with two sailing stable after a total of 164,675 units worth $678,776.64 traded. The Old Mutual ETF improved 6.53% to $8.8775 while, the MIZ ETF rallied 3.08% to $1.3400. The Datvest MCS went up 1.67% to $1.6008 while, Cass Saddle and Morgan and Co MCS closed at an unchanged prices of $2.2500 and $25.0000 respectively. The Tigere REIT slipped 0.02% to $50.6100 on 9,026 units.