EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT 23.11.2023

ZSE swings back into the black…

The market swung back into the black to see the primary All Share Index rebounding 0.74% to 175,844.96pts while, the Blue-Chip Index rising 0.64% to 74,671.08pts. The Agriculture Index was the only loser amongst the indices under our review as it dropped 0.52% to 592.91pts while, the Mid Cap Index inched up 0.95% to 776,590.43pts. General Beltings headlined the positive movers of the day after a 14.00% jump to $22.8000, followed by Zimre Holdings Limited that surged 6.90% to settle at $155.0000. Banking group NMB advanced 6.76% to $470.0300 as FMP gained 5.31% to $192.0000. FBC Holdings capped the top five winners of the day on a 5.23% uplift to end the day pegged at $905.0000. On the contrary, CFI Holdings Limited led the laggards of the day on a 5.00% slip to $1,900.0000 while, construction group Masimba Holdings shed 0.57% to $805.4636. Ariston trimmed 0.38% to close at $36.0000 as cigarette manufacturer BAT eased a negligible 0.0004% gain to settle at $12,999.95. Fourteen counters recorded gains in the session against five counters that lost ground to leave the market with a positive breadth of nine.  

Activity aggregates were depressed in the session as volume traded tumbled 70.73% to 766,577 shares while, value traded succumbed 58.26% to $894.06m. The trio of Tanganda, Delta and Econet dominated the volume aggregate for the day as they contributed 53.01%, 18.01% and 11.75% respectively. The top value drivers of the day were Delta (46.92%), Tanganda (42.32%) and Econet (6.84%). In the ETF section, Cass Saddle traded 33,000 units at $7.5000. Datvest ETF and OMTT ETF declined 0.92% and 1.43% to $8.0000 and $31.6397 apiece. In contrast, the MIZ ETF climbed 11.01% to close at $7.5600 on 100 units.