EFE Securities •
8 months ago •
Market Commentary
MARKET COMMENT 16.11.2023
OK Zimbabwe highlights the session…
Retailer OK Zimbabwe highlighted Thursday’s session, as circa 3.65m shares worth $692.66m exchanged hands in the name. The trade accounted for 80.02% of the volume totals and 35.43% of the value outturn. The other notable value drivers were Delta and Hippo with respective contributions of 29.27% and 20.88%. Activity aggregates faltered in the session as volume traded dropped 45.96% to 4.57m shares while, turnover was 37.28% lower at $1.96bn. General Beltings headlined the winners of the day after inching up 16.55% to end at a VWAP of $18.5253 while, penny stock Star Africa trailed behind on a 12.50% jump to $4.7856. Apparel retailer Edgars climbed 9.76% to $90.0000 while, insurer First Mutual Limited was 7.77% higher at $950.0000. Wines and spirit manufacturer AFDIS advanced 4.99% to close at $2,1000.0000 as it capped the top five gainers. Bankers CBZ led the laggards of the day on a 5.70% retreat to $1,980.2121 despite having reached a low of $1,950. Property concern Mashonaland Holdings eased 3.45% to $140.0000 while, logistics group Unifreight parred off 3.10% to end trading at $250.0000. Sugar producer Hippo Valley Estates succumbed 2.49% to close at a VWAP of $1,852.7122 while, Nampak lost a negligible 0.01% to close at $334.9575.
The All-Share Index advanced 1.43% to 174,211.66pts while, the Mid Cap Index rose 2.90% to settle at 742,584.18pts. The Blue-Chip Index was 0.72% up at 75,329.66pts while, the Agriculture Index was 1.42% weaker at 580.68pts. A total of two funds out of the five registered trades in the ETF category. The Old Mutual Top 10 ETF was the top traded fund in the session as 1.87m units exchanged hands at $32.0600, which was a 8.28% decline in price. The Morgan & Co Multi-Sector ticked up 3.16% to end at $340.0000 as scrappy 100 units traded. Cass Saddle, MIZ and Datvest ETFs were stable at $7.5000, $7.2000 and $8.0000. The Tigere REIT was stable at $255.0000 as 5,986 units exchanged hands.