EFE Securities •

8 months ago •

Market Commentary

MARKET COMMENT 15.11.2023

ZSE reverse losses in mid-week session…

The market reversed losses registered for the past two trading sessions, spurred by gains seen in selected heavies and mid cap counters. The primary All-Share Index rose 0.86% to 173,221.35pts while, the Blue-Chip Index grew 0.63% to 75,263.16pts. The Mid -Cap Index was 1.32% firmer at 731,179.81pts while, the Agriculture Index lost 0.97% to 583.36pts. Retailer OkZim Limited headlined the top performers of the day on a 14.99% jump to $189.7499, followed by FBC Holdings that climbed 9.33% to $820.0000. ART advanced 9.29% to settle at $60.0000 while, First Mutual Holdings edged up 3.71% to $881.5385. RTG capped the top five winners’ pack on a 3.66% uplift to end the day pegged at $134.7583. Sugar processor Hippo Valley Estates led the laggards of the day on a 5.08% slump to $1,900.1186 while, Ariston dropped 4.69% to close at $30.5000. Star Africa declined 3.32% to $4.2538 as seed producer SeedCo eased 0.92% to $720.0000. Telecoms giant Econet Holdings completed the top five fallers of the day after retreating 0.75% to close at $626.2557. The market closed with a positive breadth of three after eleven counters registered gains against eight that faltered.

Activity aggregates enhanced in the session as volumes   ballooned 143.98% to 20.63m shares while, value traded grew 74.63% to $5.45bn. Retailer OKZim Limited dominated the volume and value aggregates after claiming 53.81% of the former and 38.63% of the latter. Other notable volume drivers were Edgars (19.48%) and Star Africa (12.86%). The other notable value drivers were Delta (22.72%), Hippo (21.15%) and Econet (6.78%). A total of 135,475 units worth $34.09m exchanged hands on the ETF section. The Morgan and Co MCS ETF surged 6.32% to close at $329.5810. On the contrary, the Datvest and the OMTT ETFs retreated 11.11% and 0.13% to $8.0000 and $34.9557.  The Tigere REIT ticked up 0.04% to end the day pegged at $255.0000.