EFE Securities •

1 year ago •

Market Commentary

Market Comment - 16.06.2023

ZSE falters in week close... The market faltered in Friday’s session as losses from selected heavies dragged down the market. The mainstream All Share Index retreated 0.74% to 186,269.59pts while, the ZSE Top Ten Index trimmed 1.86% to close at 112,408.54pts. On the contrary, the ZSE Agriculture Index added 1.85% to 698.01pts while, the Mid Cap Index put on 3.11% to 357,851.06pts. Beverages giant Delta continued to decline as it dipped 3.88% to $3829.2840 having traded a low of $3,650.0000. Star Africa dipped 3.78% to end pegged at $5.8653 while, banking group CBZ let go 1.56% to $3,445.3841. Retailer OKZIM shed 0.62% to $295.6190 while, Meikles held the fifth position of the fallers’ pack dropping 0.48% to $2,098.8843. Agriculture concern CFI surged 15.00% to end at $2,228.5500 while, banking group FBC jumped a similar 15.00% to $623.4000. Apparel retailer Edgars soared 14.99% to end pegged at $94.9500 while, ART advanced 14.92% to $54.0500. Capping the top five gainers of the day was Zimre Holdings that extended 13.87% to $55.0000. Volumes traded tumbled 57.10% to 8.63m similarly, market spend succumbed 87.08% to $3.39bn. Top volume leaders of the day were Mashonaland Holdings and Econet that claimed 44.19% and 11.20% apiece of the outturn. Anchoring the value aggregate was Delta (32.74%), Econet (16.08%), and CBZ (12.67%). The ZSE ETF Index went up 17.97% to 2410.89pts. Datvest MCS and Old Mutual ETFs edged up 8.35% and 1.17% respectively. Cass Saddle tripped 7.23% to settle at $4.2244 as Morgan and Co MCS and MIZ were stable. The Tigere REIT rose a marginal 0.01% to $302.0000 on 654 units.