EFE Securities •

9 months ago •

Market Commentary

MARKET COMMENT 27/10/2023

ZSE closes week in the black …

The market ended the week in gains as the primary All Share Index rose 0.27% to 149,335.93pts while, the Blue-Chip Index added 0.41% to 65,634.77pts. The Agriculture Index edged up 1.40% to 537.17pts while, the Mid Cap Index lost a negligible 0.005% to 615,239.63pts. Brick manufacturer Willdale Limited headlined the winners of the day on a 15.00% jump to $20.7000, followed by seed manufacturer Seed Co Limited that surged 13.65% to $841.0000. ZBFH ticked up 7.59% to settle at $850.0000 while, Meikles Limited advanced 3.48% to $999.7854. RTG completed the top five best performers of the day on a 1.23% uplift to $135.0000. In contrast, Zimre Holdings Limited led the laggards of the day on a 6.25% slump to $100.0000 while, retailer OKZIM eased 2.82% to end the day pegged at $145.9316. Nampak retreated 2.63% to $336.5714 while, telecoms giant Econet dropped 0.53% to $498.8537. Clothing retailer Edgars capped the top five fallers of the day on a 0.47% slid to close at $95.3568. The market closed with a positive breadth of seven as ten counters recorded gains against three that faltered.

Activity aggregates declined in the session as volumes traded plummeted 31.42% to 5.01m shares while, value outturn succumbed 43.29% to $2.19bn. The top volume drivers of the day were Econet and OKZIM that contributed 53.86% and 38.78% respectively. The trio of Econet, Delta and OKZIM contributed 61.07%, 23.38% and 12.86% of the total value traded in that order. A total of 24,250 units worth $745,735.00 exchanged hands in the ETF section. MIZ ETF was the only gainer amongst its kind as it stepped up 2.68% to $6.9000 while, the other ETFS traded flat. The Tigere REIT was stable at $240.0000 as 69,143 units exchanged hands.