EFE Securities •

9 months ago •

Market Commentary

MARKET COMMENT 11.10.2023

Market continues to firm up…

The ZSE stretched gains in mid-week session as the All- Share Index went up 1.90% to finish at 135,903.78pts while, the Top 10 Index was 2.07% stronger at 61,109.94pts. The Mid Cap Index rose 1.63% to end at 532,815.93pts while, the ZSE Agriculture Index was the only faller of the day as it lost a marginal 0.01% to close at 514.24pts. On the risers’ table the banking duo of NMB and CBZ surged 14.68% and 14.55% to close at  $289.000 and $1,630.0000 respectively. Clothing retailer Edgars jumped 11.89% to $100.1714 while, First Mutual Properties gained 11.27% to settle at $133.5278. Packaging group Nampak completed the top five winners of the day on a 10.43% rise to $360.0000. Masimba Holdings led the day’s laggards on a 13.55% drop to $695.9091 as tobacco processor BAT eased 1.59% to $15,154.6012. Ecocash shed 1.49% to $134.9528 while, Hippo Valley Estates declined 0.65% to $1,822.5259. Meikles capped the top five fallers of the day on a 0.46% slide to $718.6364.

Activity aggregates were improved in the session as value outturn advanced 46.71% to $1.16bn while, volumes jumped 72.81% to 3.46m shares. OK Zimbabwe was the top volume leader of the day contributing 62.16% while, Delta and Seed Co Limited, had 11.30% and 10.06% in that order. Delta (54.83%), OK Zimbabwe (17.45%) and Seed Co Limited (13.07%) anchored the value aggregate of the day. A total of 29,572 units worth $501,350.02 exchanged hands in four ETFs. The Datvest ETF succumbed 2.53% to $7.7000 while, the Morgan & Co MCS shrunk 0.79% to $251.0000. Cass Saddle retreated 0.01% to $7.2191. The Tigere REIT was stable at $230.0000 as 216,716 units traded.