EFE Securities •

1 year ago •

Market Commentary

Market Comment - 29.03.2023

ZSE extend gains... The market extended gains in mid-week session as the primary All-Share Index inched up 0.12% to 37720.92pts while, the Blue-Chip Index stepped up 0.05% to 22323.61pts. The Agriculture Index put on 1.88% to close at 144.08pts while, the Mid-Cap Index rose 0.47% 76148.77pts. British American Tobacco headlined the gainers’ pack on a 5.19% surge to $2,874.8797, followed by Hippo Valley that rose 4.04% to $625.0000. Property concern Mashonaland Holdings added 3.77% to settle at $13.7500 while, Zimre Holdings Limited advanced 3.76% to $12.0000. TSL completed the top five winners’ set on a 2.83% uplift to end pegged at $100.0000. Partially mitigating today’s gains was fintech group Ecocash Holdings that lost 6.27% to $71.5372. Trailing was Star Africa that dropped 4.27% to end at $1.5030. Hotelier African Sun slipped 1.75% to $85.3923 as retailer OKZIM trimmed 1.74% to close the day pegged at $67.9086. Art Holdings capped the laggards of the day on a 1.24% slump to settle at $29.0000. The market closed with a negative breadth of two as twelve counters lost grip against ten gainers. Activity aggregates enhanced in the session as volumes grew 195.16% to 2.71m shares while, value outturn soared 113.35% to $477.58m. The top value drivers of the day were Econet, Delta, Ok and Ecocash that contributed a combined 93.68% to the aggregate. Econet (34.63%), Ok Limited (22.89%), Star Africa (17.42%) and Ecocash (16.52%) were the top volume drivers of the day. On the VFEX, Axia, Bindura and SeedCo International shed 0.59%, 0.50% and 0.19% to trade at USD$0.1174, USD$0.0198 and USD$0.2611 respectively. On the contrary, Innscor jumped 12.31% to USD$0.7301 while, Padenga climbed 0.28% to USD$0.1810. Morgan and Co MCS and Datvest ETFs retreated 14.54% and 1.39% as the duo ended at $28.5896 and $1.8600 respectively. OMTT ETF inched up 0.25% to $10.9000 while, MIZ rose 3.61% to $2.0000. The Tigere REIT eased 0.04% to close at $50.0000.