EFE Securities •

1 year ago •

Market Commentary

Market Comment - 12.06.2023

ZSE ticks up in new week... The market advanced further in the week opener to see the broad All Share index put on 3.23% to end higher at 181,462.64pts while, the ZSE Top Ten Index added 2.47% and settled at 113,012.14pts. The ZSE Agriculture Index rose 4.11% to 676.87pts while, the Mid Cap Index advanced 6.18% to 312,038.43pts. The trio of FBC, CFI Holdings and AFDIS topped the risers after charging a similar 15.00% to close the session at respective prices of $356.5000, $1,685.1500 and $1,424.2000. Property concern FMP grew 14.93% to $78.9000 while, packaging group Nampak capped the top ten winners of the day on a 14.86% uplift to $59.5000. Trading in the negative territory was apparel Edgars that shed 7.25% to $80.0000 as beverages group Delta retreated 1.93% to close at a vwap of $4,020.9901 on profit taking. Zimplow slipped 0.04% to $109.9550 as tea company Tanganda slid 0.00061% to $1681.9397. Activity aggregates were depressed in Monday’s session as volumes traded dipped 67.78% to 5.95m shares while, turnover tumbled 44.24% to $5.28bn. Masimba and Econet were the top volume drivers of the day on respective contributions of 45.07% and 21.30%. Anchoring the value aggregate was Delta, Econet and Masimba that accounted for a combined 85.66%. Old Mutual ETF and Morgan and Co MIZ gained an identical 14.99% to settle at $40.2100 and $5.8300 apiece. Datvest ticked up 14.63% to $10.8897 while, Cass Saddle improved 8.56% to $4.2991. A cumulative of 59,085 units worth $647,716.66 exchanged hands in five ETFs. Tigere REIT edged 13.60% to $229.9498 on 94,533 units.