EFE Securities •

1 year ago •

Market Commentary

MARKET COMMENT 25.10.2023

ZSE upbeat in mid-week trades…

The ZSE market remained positive in midweek session registering gains for the fourteenth consecutive day. The All-Share Index added 0.70% to close at 148,170.05pts while, the ZSE Top Ten Index edged up 0.86% to 65,084.16pts. The ZSE Agriculture Index shored up 0.32% to 525.83pts as the Mid Cap Index put on 0.35% to end at 611,156.93pts. Property concern FMP overturned prior session losses to record a 3.77% gain as it closed at $137.0723. Milk processor Dairibord rose 3.48% to $476.0000 as beverages giant Delta jumped 2.51% to $2,591.6989. SeedCo Limited charged 1.01% to $740.0000 as FBC capped the top five winners of the day on a 0.75% lift to $753.9280. Apparel retailer Edgars plummeted 8.46% to settle at $87.3333 while, CBZ retreated 1.61% to $1,780.9091. Cigarette manufacturer BAT slipped 0.76% to close at a VWAP of $13,892.8571. Ecocash was down 0.73% at $138.9309 while, Star Africa let go 0.11% to $4.9698.

Volume of shares traded ballooned 134.62% to 5.01m as turnover surged 82.20% to $1.99bn. The top volume drivers of the day were Ecocash (23.03%), Econet (22.09%), Truworths (14.83%), Star Africa (10.74%) and NMB (10.20%). Anchoring the value aggregate of the day was a tripartite of Delta, Econet and FBC with a combined contribution of 70.89% of the outturn. Foreign purchases amounted to $56.49m against sales of $511.53m leaving the market with a net funds outflow position of 455.04m. All the five ETFs were stable at previous prices as 8,675 units worth $105,285.00 exchanged hands. The Tigere REIT rose 2.11% to $239.5791 on 12,600 units.