EFE Securities •

1 year ago •

Market Commentary

Market Comment - 26.01.2023

Heavy and midcap counters lift the market... The market rebounded in Thursday session on the backdrop of gains in mid and heavy cap counters. The All-Share Index advanced 1.35% to 22111.38pts while, the Top Ten Index added 1.73% to 13673.25pts. The ZSE Agriculture Index improved 1.84% to 90.98% while, the Mid Cap Index rose 0.40% to 44418.55pts. Agriculture concern Ariston surged 12.45% to $4.7804 while, SeedCo Limited enhanced 11.00% to end at $150.0000.Proplastics improved 10.04% to $44.0152 while, tea company Tanganda jumped 7.50% to $145.1750. Conglomerate Innscor put on 6.75% to close the day at $725.3657. Financial services group Getbucks led the shakers of the day on a 8.26% decline to $20.0000 followed by Zimplow that shed 6.66% to $20.0019. Brick manufacturers Willdale slipped 3.24% to $3.0900 as Meikles trimmed 2.97% to $160.1073. Clothing retailer Edgars slid 2.37% to $9.6000. The market closed with a positive breadth as gainers outweighed fallers by a count of four. Volume of shares traded swelled 96.34% to 9.68m while, turnover garnered 73.45% to $1.18bn. Volume leaders of the day were OKZIM, Zimplow and Delta that claimed 40.71%, 20.70% and 14.88% apiece. Value drivers of the day were Delta (49.14%), Innscor (16.28%), OKZIM (12.67%) and Econet (10.28%). Simbisa was the only active counter on the VFEX as it let go 0.02% to trade at USD$0.4799. The ETFs recorded losses in the session with Datvest ETF emerging the worst faller after retreating 0.88% to $1.5000 trailed by Old Mutual ETF that lost 0.77% to $7.4099. Morgan and Co MIZ tripped 0.71% to $1.3000 as Morgan and Co MCS remained stable at $24.5000. A total of 306,140 units worth $516,593.54 exchanged hands in four ETFs. The Tigere REIT dipped 4.38% to $48.3454 on 12,419 units.