EFE Securities •

1 year ago •

Market Commentary

Market Comment - 27.02.2023

ZSE commences new week in gains as Innscor debuts on the VFEX... The ZSE commenced the new week on a positive note as four indices that we review closed the session in the black. The mainstream All-Share Index grew 1.51% to 28427.18pts while, the ZSE Top Ten Index added 1.08% to 16938.13pts. The ZSE Agriculture Index put on 2.36% to end at 118.80pts while, the Mid Cap Index rose 2.53% to close at 62471.47pts. TSL headlined the winners of the day on a 14.87% surge to $61.1089, trailed by General Beltings which jumped 14.82% to $1.8400. Banking group FBC soared 11.11% to $80.0000 as Tanganda leapt 11.00% to $251.2500. Completing the top five gainers of the day was African Sun that firmed up 8.58% to settle at $96.3636. The faller’s pack was led by ART that dipped 4.55% to $21.0000, followed by SeedCo Limited that trimmed 1.06% to $197.6377. Telecoms giant Econet shed 0.80% to $170.6601 while, fintech group Ecocash let go 0.15% to $70.0000. Spirit and wines manufacturer AFDIS held the fifth position of the shakers’ table as it slid 0.02% to close at a vwap of $284.9508. Volume of shares traded succumbed 55.51% to 1.56m, yielding a turnover of $138.11m which was a 22.24% retreat. Volume drivers of the day were Star Africa, OKZIM, Econet and First Capital that claimed a combined 80.66% of the aggregate. Econet, Delta, Hippo, AFDIS and OKZIM that accounted for 27.23%, 21.78%, 14.77%, 14.55% and 11.36% of the outturn respectively. On the VFEX, a total of 73,181 shares worth $22,051.94 exchanged hands. Innscor plunged 9.07% to USD$0.8381, having listed at USD$0.9217 as 181 shares traded. SeedCo International and Simbisa ticked up 10.82% and 4.49% apiece as Padenga was stable at USD$0.2500 on 18,000 shares. MIZ, Morgan and Co MCS and Datvest went up 2.11%, 1.40% and 0.07% in that order. The Cass Saddle was the only decliner amongst the ETFs with a 3.32% loss to $2.1367. The Tigere REIT tripped 5.63% to $47.7726 on 16,523 units.