EFE Securities •

1 year ago •

Market Commentary

Market Comment 3

Heavies lift the market... Blue-chip counters anchored the ZSE in the second last session of the week to see the market record straight gains for the tenth consecutive session. The All-Share Index advanced 4.47% to 44,952.12pts while, the ZSE Top Ten Index edged up 6.12% to 26,357.02pts. The Agriculture Index closed 0.39% firmer at 186.48pts on the contrary, the Mid-Cap dropped a negligible 0.03% to 93,580.10pts. Headlining the gainers of the day was banking group CBZ that surged 14.62% to $290.0000. Zimplow notched up 13.89% to $41.0000 post release of a cautionary statement on intention to delist from the ZSE and immediately relist on the VFEX.The duo in Fidelity Life Assurance and Econet gained an identical 13.33% to end higher at $34.0000 and $329.7618 respectively. Meikles fastened the top five gainers’ list of the day on a 10.27% increase to $424.5256. Banking group First Capital that is trading under a cautionary led the laggards of the day as it retreated 14.15% to $31.7062 while, property concern Mashonaland Holdings eased 7.70% to $18.0000. Sugar manufacturer Star Africa capped the day trading at $2.3000 following a 0.02% loss while, property concern Zimre Holdings lost a mere 0.01% to trade at $13.1491. Activity aggregates improved in the session as volumes exchanged ballooned 154.96% to 8.79m shares while, turnover jumped 243.41% to $959.66m. Duo of First Capital and SeedCO Limited highlighted todays’ activity aggregates as they contributed 79.55% of the volume and 77.93% of the turnover. A total of three ETFS recorded price movements segregated into one gainer and two losers. The Morgan & Co MIZ and Old Mutual Top ETF declined 2.11% and 3.00% respectively while, the Datvest Modified Consumer Staples ticked up 11.70% to close at $2.2006.