EFE Securities •

1 year ago •

Market Commentary

Market Comment - 25.01.2023

ZSE retreats marginally ... The market retreated in the mid-week session after a four-day rising streak as the primary All-Share Index lost 0.20% to 21817.48pts while, the Blue-Chip Index declined by 0.17% to 13440.98pts. The ZSE-Agriculture Index slid 0.80% to 89.34pts as the Mid-Cap Index shed 0.26% to 44241.80pts. Headlining the laggards of the day was agricultural concern Ariston Holdings that slipped 13.86% to $4.2513 followed by, Nampak that sank 12.41% to $12.0878. Zimplow Holdings trimmed 10.71% to $21.4286 while; General Beltings withdrew 6.68% to settle at $1.8000. Milk processors Dairibord capped the top five losers’ list on a 5.68% slump to end the day pegged at $45.2727. Partially offsetting the day’s losses was conglomerate Meikles Limited that jumped 11.26% to close at $165.0000 while, Proplastics ticked up 10.79% to $40.0000. Clothing retailers Edgars edged up 3.51% to $9.8333 as Ok Zimbabwe grew 1.37% to $37.9997. Completing the top five winners’ list was bankers, CBZ Holdings that put on 1.17% to settle at $144.8333. The market closed with a negative breadth of four after fifteen counters registered losses against eleven that recorded gains. Activity aggregates were enhanced as volumes traded jumped 99.21% to 4.93m shares while, turnover firmed up 29.66% to $681.04m. OKZIM, Econet, Delta and Innscor were the top volume contributors as they claimed a combined 77.93% of the total. Value leaders of the day were Innscor, Delta, Econet and OKZim with respective contributions of 33.71%, 27.84%, 19.48% and 11.41% respectively. A total of 978 shares exchanged hands on the VFEX as Padenga eased 0.47% to USD$0.2967 while, Bindura and Simbisa remained stable at USD$0.0240 and USD$0.4800 apiece. Tigere Reit let go 0.05% to $50.5638 on 27,601 units. On the ETF market, Datvest ETF was a lone loser after a 0.56% tumble to $1.5133. Cass Saddle ETF, MIZ ETF, MCMS ETF and OMTT ETF climbed 0.45%, 0.72%, 5.60%, 0.09% to end $2.2400, $1.3093, $24.5000 and $7.4673 in that order.