EFE Securities •

1 year ago •

Market Commentary

Market Comment - 15.03.2023

ZSE extends gains in mid-month trades... The ZSE extended gains in the mid-month session as the primary All share Index edged up 1.49% to 31957.05pts while, the Blue-Chip Index surged 2.04% to 18886.24pts. The Agriculture Index inched up 0.27% to 127.31pts while, on contrary the Mid Cap Index lost 0.03% to 65982.63pts. Telecoms giant Econet Wireless led the gainers of the day after jumping 6.05% to $220.2145 while, Proplastics added 4.58% to $74.3714. Banking group CBZ Holdings rose 3.13% to $165.0000 while, beverages group Delta advanced 2.49% to settle at a vwap of $615.9170. First Capital Bank capped the top five risers’ pack on a 0.33% uplift to close at $18.0471. Hotelier RTG headlined the laggards of the day as it eased 7.14% to $13.0000, followed by fintech group Ecocash Holdings that trimmed 3.28% to end at $66.7836. CAFCA slipped 2.82% to $340.0000 while, Zimre Holdings trimmed 0.71% to $11.4545. Star Africa completed the top five fallers of the day on a 0.68% slump to $1.6434. The market closed with a negative breadth of seven as fifteen counters gained against eight that faltered. Activity aggregates were depressed in the session as volumes traded dropped 70.22% to 1.57m shares while, total value traded shed 50.85% to $195.93m. OKZim, Econet, Star Africa and Dairibord were the volume leaders of the day as they contributed a combined 74.04% of the total. The top value drivers were Econet (37.21%), Delta (25.73%), OKZim (12.09%) and Cafca (8.47%). Cumulatively, 20286 shares worth USD$19,131.49 exchanged hands on the VFEX. Axia retreated 11.11% to USD$0.1200 as Innscor gave up 0.30% to USD$0.6725. Fast foods group Simbisa lost 0.42% to close pegged at $0.4279. Datvest and Old Mutual ETFs went up 1.02% and 0.54% to close at $1.8689 and $7.9526 apiece. Cass Saddle, MIZ and Morgan and Co MCS were stable at $2.0900 $1.4300 and $7.9526. The Tigere REIT put on 1.32% to settle at $50.6200.