EFE Securities •

1 year ago •

Market Commentary

Market Comment - 24.04.2023

Gains persist in new week... ZSE commenced the final week of the month in gains as selected heavies Meikles and BAT excelled. The mainstream All Share Index put on 2.47% to 37449.47pts while, the ZSE Top Ten Index added 2.35% to end at 21669.53pts. The ZSE Agriculture Index went up 3.05% to 162.03pts while, the Mid-Cap Index recovered 2.82% to 80743.77pts. Spirit and wines manufacturer AFDIS garnered 14.59% to $393.0000 while, property concern FMP jumped 14.21% to $17.1314. Meikles surged 14.02% to settle at $387.6622 as brick makers Willdale edged up 10.20% to $3.8571. Cigarette manufacturer BAT capped the top five winners of the day on a 10.13% lift to $5,176.2500, having traded an intra-day high of $5,405.0000. Mashonaland Holdings was the worst faller of the day on a 4.69% dip to $15.1069 while, ART declined 1.66% to $29.5022. Fintech group Ecocash retreated 1.48% to $41.3797 with retailer OKZIM shedding 0.19% to $57.4299. Construction group Masimba completed the fallers’ pack on a 0.03% loss to $145.0000. Activity aggregates were depressed in week opener as reflected in volumes that plunged 78.91% to 1.60m while, turnover succumbed 91.43% to $190.13m. Ecocash was the top volume driver of the day with a 50.13% contribution to the aggregate. Value outturn was anchored by Delta, and Ecocash which claimed 56.11% and 17.67% of the total apiece. The Datvest MCS was the top decliner amongst the ETFs as it tumbled 13.02% to $1.7111, trailed by the Old Mutual ETF that trimmed 1.49% to $9.3482. The MIZ ETF slipped 0.11% to close at $2.0378. Morgan and Co MCS was the only riser amongst its kind as it improved 4.73% to $30.3726. The Tigere REIT slid 0.04% to end at $50.6006 on 3,822 units.