EFE Securities •

9 months ago •

Market Commentary

MARKET COMMENT 23.10.2023

Econet highlights the session…

Telecoms giant Econet highlighted the session in week-opener as circa 3.20m shares worth $1.59bn exchanged hands. The trade accounted for 64.17% of the total volumes traded and 68.43% of the value outturn. OKZIM was the other notable volume driver with a 23.82% contribution while, Delta accounted for 18.83% of the value outturn. Volumes traded ballooned 281.00% to 4.99m shares while, turnover swelled 314.46% to $2.34bn.  The primary All Share Index added 0.23% to close at 145,593.16pts while, the ZSE Agriculture Index improved 0.25% to 517.42pts. The Mid Cap Index went up 2.19% to close at 603,598.18pts. The ZSE Top Ten Index was the only loser amongst the indices we review as it trimmed a further 0.69% to end at 63793.12pts.

Meikles headlined the winners of the day on a 14.98% surge to $963.0000, trailed by FML that garnered 10.16% to settle at $572.0000. Banking group NMB jumped 4.69% to $315.0000 as retailer OKZIM put on 3.58% to $145.0879. Fintech group Ecocash capped the top five gainers of the day on a 2.34% uplift to $133.0870, closing with a spread of $131.0000-$135.0000. Banking group CBZ was the worst performer of the day after succumbing 9.90% to end pegged at 1,800.0000. Agriculture concern Ariston followed on a 1.59% decline to $31.0000 while, Turnall shed a further 0.72% to $25.0000. Nampak retreated 0.58% to $344.0000 as FBC slipped 0.14% to cap to five shakers of the day at $748.9500.

Two ETFs registered price movements in Monday’s session as the Old Mutual ETF slid 1.54% to $31.0000 while, the Datvest MCS rose 0.03% to $7.2400. Cass Saddle, MIZ and Morgan and Co MCS were stable at $7.2500, $7.0000, and $250.0000. The Tigere REIT improved 0.28% to end at $237.6436 as 3,193 units worth $758,796 traded.