EFE Securities •
7 months ago •
Market Commentary
Market comment 13. 11 .2023
ZSE inches up amidst low activity…
The ZSE inched up amidst low trading activity on the bourse as only twenty-two counters registered trades in the session. The market closed with a negative breadth of four as six counters advanced against ten that declined. The All-Share Index was 0.36% firmer at 198,516.91pts while, the Blue-Chip Index added 0.47% to close pegged at 84,413.11pts. The Mid Cap Index gained 0.15% to 875,009.02pts while, on the contrary the Agriculture Index was 0.99% weaker at 599.35pts. Headlining the gainers’ list of the day was brick manufacturer Willdale that garnered 33.33% to $40.0000 while, fintech group Ecocash charged 14.64% to close at a VWAP of $139.5686. Property concern Mashonaland Holdings was 2.14% up at $143.0000 while, retailer OK Zimbabwe added 0.12% to settle at $195.2378. Telecommunication giant Econet fastened the winners of the day on scrappy gains of 0.05% to close trading at $719.3068. Trading in the negative territory were SeedCo that retreated 5.46% to $813.0541, followed by Meikles that dropped 3.41% to settle at $1,300.0000. Sugar producer Hippo eased 2.37% to close at $1,855.0000 while, Zimre Holdings was 0.96% weaker at $182.5508. Packaging group Nampak capped the worst performers of the day as it fell 0.67% to $298.0000 as scrappy 100 shares exchanged hands in the counter.
Activity aggregates faltered in the session as volumes declined 82.49% to see 1.15m shares worth circa $1.60bn exchange hands in the session. This represented a 44.71% decline in value traded. Volume drivers of the day were Delta, FBC, SeedCo and Star Africa with respective contributions 27.23%, 17.50%, 15.19% and 11.89%. Delta dominated in the value category as it claimed 67.97% of the outturn. The other notable value contributor was FBC with a 11.89% claim of the total. In the ETF category, the Morgan & Co Multi Sector ETF was the only fund to register price movement as it let go 10.71% to trade at $500.0000. A total of 31,100 units worth $280,060.00 traded in the session. The Tigere REIT edged up 0.38% to $299.9609.