EFE Securities •
1 year ago •
Market Commentary
Market Comment - 10.03.2023
Heavy and mid-cap counters lift the market... The market capped the week in gains as the All Share Index buttressed prior sessions gains with a 1.97% ascent to 30,049.98pts. The Blue-chip Index advanced 2.17% to end pegged at 17359.67pts buoyed by gains in Delta while, the Mid Cap Index rose 0.99% to close at 65,938.99pts. The Agriculture Index ended at 126.93pts following a 0.76% uplift. Headlining the gainers of the day was TSL that jumped 13.91% to $74.0500, trailed by property concern Mashonaland Holdings that inched up 10.00% to trade at $11.0000. Zimre Holdings put on 5.18% to close at $11.5176 while, Delta added 5.12% to $558.3928. Tissue manufacturer ART Holdings fastened the top five risers of the day on a 3.44% surge to $22.7576. Partially offsetting today’s gains was Ecocash Holdings that eased 1.20% to $65.0742, followed by hotelier African Sun that continued to lose ground as it slipped 1.12% to $90.9660. Packaging group Nampak dropped 1.07% to finish at $26.0168 while, agriculture concern Ariston dipped 0.81% to $11.3656. Bankers ZB capped the top five worst performers of the day on 0.67% drop to $118.0000. Activity aggregates faltered in the session as the volume of shares traded dipped by 60.85% to see 2.76m shares exchange hands while, turnover was down 4.39% to $520.49m. The duo of Delta and Econet drove the volume aggregate in the session as they claimed a shared 62.99% of the total. Delta emerged as the value leader in the session claiming 60.58% of the turnover, trailed by OKZIM that contributed 12.87%. The ETF Index was up 2.70% to 370.26pts mainly lifted by Datvest MCS that surged 4.97% to $2.0981 while, Morgan & CO Made in Zim and Morgan & CO Multi Sector ETFs added 2.40% and 0.06% respectively. On the contrary, Old Mutual Top 10 ETF fell 0.16% to $7.8505 while Cass Saddle was flat at $2.0882. On the VFEX, the All-Share Index closed 0.26% up at 98.07pts. Axia and Innscor trimmed 0.29% and 0.19% apiece while, Bindura and Simbisa jumped 0.50% and 1.50% respectively. Simbisa claimed 75.65% of the turnover.