EFE Securities •

1 year ago •

Market Commentary

Market Comment - 23.01.2023

ZSE ekes out gains in week opener... ZSE gains persisted into the new week as the primary All-Share Index extended 0.79% to end the day at 21835.43pts while, the ZSE Top Ten Index added 0.82% to 13945.76pts. The ZSE Agriculture Index put on 0.23% to 88.79pts while, the Mid Cap Index rose 0.69% to 43911.33pts. The top gainer of the day was General Beltings that advanced 9.26% to $1.9667 followed by banking group CBZ that notched 5.67% to $148.0769. African Sun improved 5.58% to $30.5417 while, conglomerate Innscor charged 3.39% to $672.0072. Tea company Tanganda capped the top five winners of the day on a 1.34% lift to $130.0000. Partially offsetting the day’s gains were losses in Willdale that dipped 13.51% to $3.2000 trailed by, Star Africa which dropped 6.85% to $2.0494. First Capital retreated 5.92% to $13.1723 erasing previous session’s gains. Retailer OKZIM slipped 2.90% to $38.0339. Fintech group Ecocash held the fifth position of the fallers’ table having trimmed 1.62% to settle at $54.1111. Activity was depressed in the session as volumes plummeted 47.00% to 2.09m while, turnover plunged 52.60% to $328.11m. Top volume contributors were Proplastics, Econet, Delta and OKZIM that claimed a mutual 86.38% of the aggregate. Delta, Innscor and Econet accounted for 36.90%, 27.05% and 25.09% of the value outturn apiece. On the VFEX market, Simbisa was the only counter to trade as it ticked up 0.02% to USD$0.4800 on 6,773 shares. The two ETFs that traded in the positive were the Cass Saddle and Datvest ETFs, the duo put on 1.08% and 0.57% to end at $2.2282 and $1.5102 apiece. The Old Mutual and the Morgan and Co MCS traded in the negative territory as the former shed 0.31% to $7.4660 while, the latter let go 0.14% to $23.2000. The Tigere REIT edged up 14.99% to $50.6200 on 4,107 units. In other news, Getbucks financial holdings issued a cautionary statement advising shareholders that the group is considering delisting on the ZSE.