EFE Securities •

8 months ago •

Market Commentary

MARKET COMMENT 10.11.2023

ZSE caps week in marginal gains…

The market ended the week in marginal gains as the primary All Share Index rose 0.17% to 173,883.74pts while, the Mid Cap Index added 1.65% to 713,116.49pts. The Blue-Chip Index lost 0.51% to 76,606.36pts as weighty heavies dragged down the Index while, the Agriculture Index slid 0.01% to 601.85pts. Insurer FML led the positive movers of the day on a 14.89% jump to $783.0000, trailed by telecoms giant Econet that surged 9.70% to settle at $548.9837. Banking group NMB advanced 1.23% to $410.0000 while, First Mutual Properties firmed up 1.13% to close at $169.9901. Hotelier RTG capped the top five winners of the day on a 0.08% lift to end the week at $130.0000. General Beltings headlined the laggards of the day on a 7.85% drop to $15.8952 while, brick manufacturer Willdale trimmed 6.08% to settle at $25.1714. Beverage’s giant Delta declined 3.02% to $3,442.6875 post the release of its half year results. Star Africa eased 1.08% to $4.9000 while, fintech group completed the fallers of the day on a 0.78% slump to close at $128.9841. The market closed with a negative breadth of one after seven counters faltered against six that gained.

Activity aggregates were mixed in the session as volumes traded ballooned 119.51% to 7.57m shares while, value outturn succumbed 64.84% to $979.81m. Ariston Holdings anchored the volume aggregate after claiming a huge chunk of 82.24%. The top volume drivers of the day were Delta, Econet and Ariston that accounted for 40.15%, 28.10% and 20.65% respectively. Foreigners were net buyers in the session as inflows amounted to $42.48m against a nil outflow. A total of 134,353 units exchanged hands in the ETF section. The Old Mutual ETF dropped 0.69% to end the week at $34.4420. Morgan and Co MCS and MIZ ETF edged up 8.07% and 0.30% to end at $310.0000 and $7.2000 respectively.