EFE Securities •

1 year ago •

Market Commentary

Market Comment - 28.04.2023

ZSE gains stretch in week-ending session... Gains on the ZSE stretched into the week ending session as the primary All Share Index rose 1.74% to 41391.62pts while, the Mid-Cap Index added 3.23% to 91349.20pts. The Blue-Chip Index ticked up 1.21% to 23764.03pts while, the Agriculture Index advanced 0.91% to 184.11pts. Fintech group, Ecocash Holdings headlined the winners of the day on a 14.95% jump to $65.1811 while, Riozim surged 14.58% to $200.0000 on a rare trade. Retailers OkZim Limited climbed 13.95% to settle at $58.1557 while, Proplastics firmed up 12.53% to $177.0000. Brick manufacturers Willdale Limited capped the gainers pack on a 10.21% uplift to $3.9677. Leading the laggards of the day was Art Corporation that lost 12.43% to close at $25.8333, followed by Meikles Limited which dropped 7.04% to $386.7206. Packaging group, Nampak declined 3.08% to $28.0000 while, tea producers Tanganda retreated 0.04% to end the day pegged at $360.0184. First Capital bank completed the fallers pack on a negligible 0.01% loss to close at $35.9823. The market registered a positive breadth of fifteen as twenty counters registered gains against five that lost ground. Activity aggregates were mixed in the session as the volume traded succumbed 8.60% to 5.93m shares while, turnover grew 53.25% to $1.91bn. Top volume drivers of the Day were Ecocash (37.00%), Delta (24.88%), Meikles (20.88%) and Star Africa (4.46%). Delta (60.88%) was the top value driver as it claimed the largest slice of the cake. Other notable value drivers were Meikles, Ecocash and Hippo Valley that contributed a combined 34.69% of the total outturn. On the ETF section, the MIZ ETF eased 0.20% to $2.0600 while, Cass Saddle ETF and Datvest ETF grew 0.49% and 0.44% to $2.0500 and $1.7519 respectively. Morgan and Co Multi-sector ETF advanced 5.36% to close at $29.5000. OMTT ETF added 1.45% to settle at $9.4955.