EFE Securities •

1 year ago •

Market Commentary

Market Comment - 13.04.2023

Bearish sentiment prevails... The ZSE faltered in Thursday’s session to see heavies Econet and Ecocash leading the fallers pack of the day. The primary All-Share Index fell 1.58% to 36206.03pts while, the Blue-Chip Index was down 2.15% to close at 20761.33pts. The ZSE Agriculture Index slipped 0.09% to 150.98pts as the Mid-Cap Index retreated 0.04% to finish at 80134.30pts. The day’s fallers were led by telecoms giant Econet which gave up 10.05% to end pegged at $164.6679, followed by Ecocash that dropped 8.82% to $48.0859. Sugar processor Star-Africa declined 2.59% to $1.6243 as packaging group Nampak lost 2.54% to $30.9500. Completing the top five shakers’ list was bankers First Capital that slid 2.33% to $30.0655. Leading the risers of the day was Zimre Holdings Limited which rose 4.54% to $11.0000, followed by retailer OK Zimbabwe that rebounded 1.81% to $61.0909. Bankers NMB advanced 1.58% to $61.0000 while, Zimplow went up 1.01% to finish at $36.5000. FBC Holdings capped the winners’ set after gaining 0.40% to $125.5000. Activity aggregates traded mixed in the session as volumes went down 11.71% to 3.00m shares while, turnover surged 54.79% to $1.35bn. Delta and Econet dominated the value and volume sections contributing 81.17% of the former and 92.36% of the latter. On the VFEX, 28,241 shares worth USD$12,568.86 traded. Innscor fell 2.03% to USD$0.6318 while, Axia slipped 1.39% to end at USD$0.0991. SeedCo International shed 0.41% to USD$0.2900 while, Simbisa Brands was down 0.21% to USD$0.4200. National Foods and Padenga were the only risers adding 0.43% and 0.10% to USD$1.8100 and USD$0.2000 respectively. The ETF traded a cumulative 16,710 units worth $168,179.00 for the day. Datvest came off 0.54% to $1.8400 while, the Old Mutual ETF declined 1.85% to $10.0190. Morgan and Co MCS was flat at $31.0000. The Tigere REIT added 0.56% to $50.5301 on 1,335 units.