EFE Securities •

1 year ago •

Market Commentary

Market Comment - 19.05.2023

ZSE extends gains... ZSE recorded gains for the seventh consecutive session. The mainstream All Share Index rose 1.87% to 83,219.72pts while, the ZSE Top Ten improved 1.23% to 51,106.33pts. The Agriculture Index advanced 3.99% to 298.64pts as the Mid Cap Index grew 4.16% to end at 149,855.48pts. Construction group Masimba headlined the winners of the day on a 15.00% surge to $334.6500. Zimpapers followed on a 14.99% jump to $8.6700 post the release of Q1 trading update in which revenue grew 382% to $5.5bn while, volumes declined by 23%. First Mutual Holdings edged up 14.96% to $33.0500 as apparel retailer Edgars recovered 14.94% to $44.2500. Mashonaland Holdings held the fifth position on the risers’ table with a 14.82% upsurge to $29.0500. The duo of FMP and Econet partially offset today’s gains after easing 12.43% and 6.00% to end at $38.7917 and $563.9728 apiece. Activity aggregates were mixed in Friday’s session as volumes ballooned 194.93% to 23.04m while, turnover dipped 11.01% to $2.70bn. The top volume driver of the day was Turnall that accounted for 72.58% of the aggregate. Delta and Tanganda anchored the market spend on respective contributions of 36.96% and 29.23%. MIZ topped the winners amongst the ETFs as it charged 7.83% to $3.0196 while, the Old Mutual ETF went up 6.76% to $16.5301. The Datvest MCS extended 0.62% to $4.7997. The sole faller of the day was Cass Saddle that slipped 0.23% to $2.7937. The Tigere REIT retreated 0.20% to $66.7144 on 682,244 units worth $45.52m.