EFE Securities •

1 year ago •

Market Commentary

Market Comment - 27.01.2023

ZSE caps the week in slight gains... The market closed the day in slight gains as the All-Share Index gained 0.14pts to close at 22,142.52pts. The ZSE-Agriculture Index advanced 2.07pts to end pegged at 92.87pts while, the Mid Cap Index rose 1.66% to 45,157.58pts. On the contrary, the ZSE Top Ten Index declined 0.44% to 13,612.50pts. Leading the best performers of the day was Zimplow that ticked up 14.99% to $23.0000 trailed by seed manufacturer Seed Co Limited that surged 10.02% to end at $165.0333. First Mutual Properties put on 9.60% to $14.5125 while, Mashonaland Holdings closed pegged at $8.6800 following a 7.40% jump. Tanganda tea company picked up 6.94% in the session to close the week at $155.2500. The market recorded a positive breadth of nine as sixteen bulls charged on seven bears. First Mutual Holdings led the laggards of the day as it fell 13.41% to $19.0500 followed by banking group NMB that went down 3.15% to trade at $40.6769. Innscor that is trading under cautionary retreated 2.04% to settle at $710.5589. Duo in Delta and Axia capped the top five losers of the day on a similar 0.01% loss to see the former close at $402.9773 while, the latter was at $98.0025. Activity aggregates faltered in the session as volumes traded declined 44.02% to 5.42m while, value traded shed 49.33% to $598.53m. Ok Zimbabwe and Axia drove the volume aggregate in the session as they contributed a shared 77.38% of the total. Value drivers of the day were Delta (31.94%), Innscor (25.96%), Ok Zimbabwe (21.08%) and Axia (14.07%). The ETFs traded mixed in the session as the Datvest MCS slipped 0.17% to $1.4975. Cass Saddle and Old Mutual top 10 gained 0.45% and 1.25% respectively. The Tigere REIT was 4.69% stronger at $50.6200. Elsewhere, on the VFEX Bindura was stable at US$0.0240 while, Simbisa dropped 1.85% to US$0.4710. A total of 12,103 shares worth US$5,476.84 were traded in the aforementioned market.