EFE Securities •

1 year ago •

Market Commentary

Market Comment - 17.02.2023

Econet anchors volume aggregate... Telecoms giant Econet anchored the volume aggregate of the day as 8.23m shares worth $1.44bn which represents 64.72% of the total volumes and 37.55% of the value aggregate. Other notable volume and value drivers of the day were Innscor and Delta that accounted for a combined 25.23% of former and 54.17% of the latter. Activity aggregates enhanced in the session as volumes traded rallied 273.76% to 12.74m shares while, turnover jumped 147.08% to $3.84bn. Telecoms giant Econet headlined the laggards of the day on 7.97% drop to $175.0023 followed by Star Africa that slid 3.19% to $1.7232. Fintech group Ecocash Holdings slipped 3.12% to $70.5000 while; Axia trimmed 2.83% to $133.9909. Capping the top five losers’ pack was First Capital that retreated 2.31% to $18.2567. Positive movers of the day were led by Zimpapers that surged 14.94% to settle at $5.0000, trailed by life assurer Fidelity notched 12.50% to $27.0000. Hotelier Meikles Limited grew 11.11% to $200.0000 as African Sun advanced 5.31% to $62.0124. Spirit and Wines manufacturer AFDIS completed the top five winners’ set on a 4.59% uplift to close the day pegged at $285.0000. The risers and fallers’ spectrum of the day was equally distributed at twelve apiece. The All-Share Index lost 0.77% to 27301.03pts while, the Blue-Chip Index shed 1.63% to 16645.38pts. On the contrary, the Agriculture Index inched up 0.05% to 112.94pts as the Mid cap Index put on 1.34% to 56883.05pts. On the VFEX market, Padenga went up 0.81% to USD$0.2598 while, Simbisa tripped 1.86% to USD$0.4224. Cumulatively, 54,228 shares worth $14,207.53 traded on the VFEX. The Datvest ETF and MIZ ETF rose 4.77% and 1.39% to close at $1.6240 and $1.3500 respectively. MCMS ETF eased 2.28% to $21.5000 while, the Old Mutual ETF fell 0.19% to settle at $9.0027. The Tigere Reit stumbled 0.04% to $48.7587 as 12,100 units traded.