EFE Securities •

9 months ago •

Market Commentary

MARKET COMMENT 10.10.2023

ZSE extends gains…

The ZSE extended gains in Tuesday’s session as the primary All- Share Index added 1.18% to 133,374.38pts while, the Blue-Chip Index rose 1.37% to 59,867.85pts. The Mid Cap Index edged up 0.86% to 524,271.20pts while, on the contrary the Agriculture Index lost 0.62% to 514.29pts. Banking group CBZ Holdings jumped 14.75% to $1,423.0000 as insurers First Mutual Limited stepped up 12.24% to settle at $359.1538. General Beltings added 1.46% to $10.1455 while, telecoms giant Econet Holdings advanced 0.80% to close at a vwap of $475.2327. Zimre Holdings Limited capped the top five gainers’ pack on a 0.65% uplift to close at $90.6889. Cigarette manufacturer BAT led the laggards of the day on a 3.66% slump that took it to $15,400.0000, followed by Turnall that eased 1.79% to settle at $26.3000.  Retailer OKZim retreated 0.65% to land at $135.0919 while, fintech group Ecocash Holdings declined 0.36% to $137.0000. TSL completed the top five fallers’ set on a 0.23% slide to $498.8750. The market closed with a positive breadth of seven after fourteen counters recorded gains against seven that faltered.

Activity aggregates enhanced in the session as volumes traded ballooned 108.00% to 2.00m shares while, turnover grew 141.40% to $1.10bn. Econet highlighted today’s aggregates after contributing 55.23% and 47.73% to the volume and value totals respectively. The other top volume drivers of the day were OK (9.18%), Mash Holdings (8.14%), Dairibord (7.98%) and Delta (6.29%). Delta, Dairibord and Masimba contributed a combined 37.03% to the value outturn. In the ETF section, Cass Saddle and MIZ dropped 0.38% and 1.47% to end pegged at $7.2200 and $7.7842 apiece. Morgan & CO Multi Sector surged 15.00% to close at $253.0000. The Tigere REIT was stable at $230.0000 as 4,695 units traded.