EFE Securities •

1 year ago •

Market Commentary

Market Comment - 22.05.2023

ZSE remain firm in week-opener... The market firmed in week-opener as the primary All Share Index put on 1.73% to end at 84655.77pts while, the Blue-Chip Index added 1.08% to 51656.83pts. The ZSE Agriculture Index grew 2.11% to close at 304.93pts while, the Mid-Cap Index went up 4.05% to 155927.55pts. Leading the winners of the day was the duo of Proplastics and Dairibord that surged a similar 15.00% to close at $344.9999 and $276.5500 apiece. Financial services group ZB garnered 14.97% to $138.0500 as apparel retailer Edgars trailed on a 14.90% uplift to $50.8448. Mashonaland Holdings completed the top five winners of the day on a 14.77% jump to $33.3396. Partially offsetting today’ gains were losses in Ecocash that dipped 10.59% to $133.9805. Zimplow dropped 1.09% to trade at $95.0000 as Tanganda shed 0.82% to $746.4546. Cigarette manufacturer BAT slipped 0.21% to $5406.2500 as RTG lost 0.19% to $44.2500. Activity aggregates were subdued in Monday’s session as volumes traded succumbed 78.38% to 4.98m shares while, turnover declined 21.57% to $2.12bn. Volume leaders of the day were Tanganda, Ecocash, Star Africa and Delta that claimed a combined 66.57% of the aggregate. Delta, BAT and Tanganda accounted for 33.69%, 24.32% and 22.21% of the value aggregate apiece. MIZ notched 8.61% to $3.2797 while, the Old Mutual ETF rallied 3.05% to $17.0350. Morgan and Co MCS and Cass Saddle ticked up 1.72% and 0.33% respectively. The Datvest MCS was the sole faller of the day as it pared 1.28% to $4.7383.