EFE Securities •
1 year ago •
Market Commentary
Market Comment- 23.03.2023
ZSE bullish trend snaps... The market slipped into the red in the penultimate session of the week halting its eleven day rising streak. The All-Share Index retreated 1.05% to 38119.28pts while, the ZSE Top 10 Index was 1.80% weaker at 22918.47pts weighed down mainly by Ecocash, Delta and Econet. On the contrary, the Agriculture Index advanced 1.14% to 139.32pts while, the Mid Cap Index put on 1.26% to settle at 74,383.54pts. Headlining the laggards of the day was banking Group ZB that eased 11.07% to $104.4916, trailed by Ecocash Holdings that trimmed 4.35% to $86.0870. Property concern First Mutual fell 4.26% to end pegged at $15.0000. Mashonaland Holdings dropped 3.37% to $10.6396 post the release of its FY22 results in which the group recorded a PAT $17.15bn and declared a total dividend of $212.40m. Agriculture concern Zimplow capped the top five losers of the day on a 3.15% loss to close at $34.0000. Leading the risers of the day was banking group First Capital that buttressed prior sessions gains as it eked 13.85% to settle at $32.9606. Digital group Zimpapers garnered 8.60% to $5.8100 while, Proplastics closed at $95.0000 following a 6.31% rise. FBC jumped 5.96% to close the day pegged at $92.2344 while, sugar manufacturer Hippo Valley fastened the top five risers of the day on a 5.27% surge to $600.0187. Activity aggregates faltered in the session as volume of shares traded declined by 63.99% to see 2.40m shares trade while, turnover slipped by 34.30% to $503.71m. OKZim led the volume aggregates as it contributed 30.35% of the total, trailed by Econet and Delta that claimed 16.57% and 12.46% respectively. Trio of Delta, Econet and OKZim claimed a shared 78.22% of the turnover. The ZSE ETF Index jumped 22.39% to 480.52pts as all the listed ETFs surged in the session. On the VFEX, the All-Share Index was down 2.22% to 95.04pts. All the counters on the above-mentioned bourse traded in the negative territory headlined by Innscor and Simbisa that shed 4.89% and 0.99% apiece. A total of 66,338 shares worth US$32,139.66 exchanged hands in six counters .