EFE Securities •
1 year ago •
Market Commentary
Market Comment - 27.03.2023
ZSE commences week in marginal losses... The market recorded marginal losses in week-opener as the mainstream All Share Index slid 0.14% to end at 37271.15pts while, the Blue Chips Index trimmed 0.81% to close at 22153.10pts. Contrastingly, the ZSE Agriculture Index and the Mid Cap Index added 2.12% and 1.03% to settle at 139.94pts and 74590.59pts respectively. Packaging group Nampak led the decliners of the day on a 4.42% retreat to $30.0000 as Ecocash followed on a 4.38% drop to $79.1030. Star Africa shed 2.88 to $1.5248 while, banking group First Capital let go 2.87% to $32.8640. Hotelier African Sun capped the top five shakers of the day on a 2.18% slip to $87.0615. The only listed mining company on the bourse RioZim jumped 11.58% to $205.3115, trailed by FMP that jumped 8.40% to $16.2600. Tea company Tanganda surged 8.36% to $341.3754 while, NTS edged up 7.69% to trade at $14.0000. Milk processor Dairibord completed the top five winners of the day on a 5.36% uplift to $100.0000. The market closed with a positive breadth of six as sixteen counters gained against ten losers. Activity aggregates were depressed in Monday’s session as volumes dipped 50.12% to 2.22m while, value outturn succumbed 75.10% to $225.23m. Star Africa was the top traded counter by volume as it claimed a huge chunk of 65.91% of the aggregate leaving other counters scrambling for the remaining 34.09%. Value drivers of the day were Delta (36.28%), Econet (20.98%), Hippo Valley (13.83%) and Tanganda (11.10%). Padenga was the worst performer on the VFEX bourse as it tumbled 18.18% to $0.1800 while, Nedbank plunged 5.22% to USD$10.9000. Axia pared 1.33% to USD$0.1184 as SeedCo International trimmed 0.15% to USD$0.2616. The only gainer on the VFEX was Innscor that went up 3.09% to USD$0.6702. The Morgan and Co MCS and MIZ inched up 3.37% and 2.93% apiece. Cass Saddle, Old Mutual and Datvest MCS ETFs were unchanged at $2.1000, $10.0000 and $1.8900 apiece. The Tigere REIT rose 1.07% to $49.7875 on 697,703 units.