EFE Securities •

1 year ago •

Market Commentary

Market Comment - 20.04.2023

Mid cap counters lift the market... The market rebounded in the penultimate session of the week anchored by mid-cap counters that buttressed prior sessions gains. The All-Share Index gained 1.11% to 36,525.83pts while, the ZSE Top 10 Index edged up 0.79% to 21,112.54pts. The Agriculture Index rose 0.37% to 154.81pts as the Mid Cap Index firmed 0.97pts to 78,992.24pts. Headlining the gainers of the day was construction group Masimba Holdings that surged 15.00% to end at $169.2500, trailed by cigarette manufacturer BAT that inched up 6.83% to $4300.0000. Spirits and wines producer AFDIS put on 6.12% to settle at $342.9622 while, General Beltings Holdings garnered 5.45% to $2.3405. Mashonaland Holdings fastened the top five gainers of the day as it closed pegged at $15.8000 following a 5.33% jump. Seed manufacturer SeedCo Limited led the laggards of the day as it pared 7.50% to $185.0000, followed by Star Africa that dropped 0.18% to $1.9000. Proplastics was subdued at $108.9500 after dropping 0.05% while, Ecocash Holdings continued to lose ground as it fell 0.04% to $39.9703. Beverages manufacturer Delta capped the fallers of the day as it trimmed a mere 0.02% to close at $795.9405. Foreign purchases stood at $256,375.00 as investors cherry-picked TSL while, foreign selling amounted to $968.90m with Delta accounting for 97.41% of the total. Activity aggregates were mixed in the session as turnover ballooned by 189.17% to $1.26bn while, volume of shares traded declined 58.80% to 3.86m. The duo of Ecocash and Delta drove the volume aggregate of the day as they claimed a combined 73.41% of the total. In the value category, Delta highlighted the session as it claimed a massive 79.16% of the outturn. Tigere REIT was 0.02% weaker at $50.6098. The ETF Index was 12.36% higher at 536.90pts buoyed by gains in Cass Saddle and Morgan &Co Multi Sector ETF.