EFE Securities •

1 year ago •

Market Commentary

Market Comment - 21.03.2023

Bullish sentiment prevails... The market remained upbeat in Tuesday’s session as the All-Share Index rose 6.35% to 38025.14pts while, the Top Ten Index advanced 8.23% to 23120.71pts. The ZSE Agriculture Index surged 2.94% to 135.60pts as the Mid-Cap Index edged up 2.13% to 71972.52pts. Hippo Valley headlined the gainers’ list after gaining 12.75% to $570.0000 followed by bankers First Capital that inched up12.25% to $25.1992. Beverages giant Delta garnered 12.13% to $804.0014 as logistics concern Unifreight was 11.11% stronger at $70.0000. Telecoms company Econet fastened the top five winners of the day on a 10.09% jump to $284.7869. Leading the laggards of the day was brick company Willdale which dropped 7.48% to $3.7000 trailed by sugar refiner Star Africa that receded 2.99% to $1.6527. Cigarette manufacturer BAT slid 2.25% to $2,707.5000 as Ariston Holdings capped the fallers’ set on a 2.00% dip to $11.0000. Activity aggregates were depressed as turnover declined 8.75% to $415.22m while, volume of shares traded was 3.44% lower at 2.86m shares. Value drivers of the day were Delta, BAT, Econet and OKZIM that contributed a combined 86.32% of the outturn. OKZIM and Star Africa anchored the volume aggregate with respective contributions of 29.03% and 25.44%.On the VFEX, Bindura was the top gainer amongst its kind as it improved 5.29% rise to USD$0.0199 on 55,533 shares while, Padenga trimmed 4.04% to USD$0.2303. SeedCo International shed 0.19% to USD$0.2695. The ETFs traded a cumulative 133,252 units with Old Mutual, Morgan & Co MCS and MIZ adding 11.14%,2.01% and 0.40% respectively. The Datvest ETF gave up 1.33% to $1.8505 while, the Cass Saddle ETF slipped 0.56% to $2.0815. The Tigere REIT retreated 4.93% to close at $48.1251 on 231,646 units.