EFE Securities •
1 year ago •
Market Commentary
Market Comment - 22.03.2023
ZSE rising tide continue... The ZSE rising tide persisted in the mid-week session as the primary All Share Index surged 1.31% to close at 38522.35pts while, the Blue-Chip Index inched up 0.95% to 23339.55pts. The Mid Cap Index rose 2.06% to 73458.48pts while, the Agriculture Index added 1.59% to 137.76pts. Banking group, First Capital led the gainers of the day on a 14.88% jump to close at $28.9500, followed by Proplastics that advanced 11.64% to $89.3644. Tea producers Tanganda that soared 10.66% to $348.5714 while, Rainbow Tourism Group climbed 7.88% to $13.0000. Fintech group Ecocash Holdings completed the top five winners’ pack on a 7.18% uplift to settle at $90.0000. Headlining the losers of the day was Zimpapers that slid 7.92% to $5.3500 while, Ariston Holdings tumbled 5.22% to $10.4263. Zimplow Holdings eased 2.60% to settle at $35.1042 as First Mutual Properties slipped 1.15% to end pegged at $15.6667. BAT capped the losers’ pack on a 0.31% slump to $2,699.0000. The market closed with a positive breadth of nine as seventeen counters registered gains against eight that lost their grip. Activity aggregates were enhanced as turnover jumped 84.66% to $766.73m while, volume of shares traded swelled 132.66% to see 6.65m shares exchange hands. Delta, OKZim, Econet, and FBC Holdings were the top value drivers as they contributed a combined 91.59% to the outturn. The top volume drivers of the day were OKZim (49.80%), Econet (11.07%), First Capital (9.61%) and Delta (8.07%). On the VFEX, Padenga and Bindura lost 4.17% and 1.86% to $0.2207 and $0.2645 respectively. Contrarily, Axia put on 0.24% to close the day at $0.1250. A total of 2.99m units worth $5.58m traded on the ETF segment. Cass Saddle and Datvest ETFs added 0.41% and 0.51% to see the former close at $2.0900 and the latter at $1.8600. Morgan and Co MCS and the Old Mutual ETF surged 11.86% and 3.47% to settle at $24.6501 and $9.2037. The Tigere REIT shed 2.41% to close the day pegged at $45.7226.