EFE Securities •

1 year ago •

Market Commentary

Market Comment - 30.01.2023

Winning streak continues in the new week... ZSE gains persisted into the penultimate session of the month as four indices that we review closed pointing northwards. The primary All Share Index put on 2.19% to end at 22628.32pts while, the ZSE Top Ten Index grew 1.58% to 13827.82pts. The ZSE Agriculture Index improved 4.64% to 97.18pts while, the Mid-Cap Index added 3.80% to close at 46874.46pts. The top winner of the day was Hippo Valley that surged 15.00% to $370.3500 while, SeedCo limited jumped 14.98% to $189.7500. Dairibord notched 14.97% to settle at $52.0500 as Proplastics gained 14.00% to $51.3000. Microfinance group Getbucks completed the top five risers of the day on a 9.75% to $21.9500. On the downside was NMB that receded 10.51% to $36.4000. General Beltings came off 2.87% to $1.7445 as TSL was 1.57% softer at $50.2000. Zimre holdings retreated 0.73% to $6.8000 while, agriculture concern Ariston trimmed 0.66% to close at $4.7511. Activity aggregates were depressed in Monday’s session as volumes dipped 54.72% to 2.45m while, market spend plunged 69.74% to $181.09m. Volume drivers of the day were Axia and First Capital that claimed a combined 67.61% of the aggregate. Value drivers of the day were Axia (53.33%), Delta (12.67%) and Innscor (10.27%). The VFEX market succumbed to losses in the session as three counters closed in the red. Simbisa was worst faller having declined 8.62% to $0.4304 while, Padenga and SeedCo International shed 0.81% and 0.07% apiece. A total of 37,131 shares worth USD$11,357.34 exchanged hands. The Old Mutual Top Ten ETF charged 5.18% to $7.8908 while, Cass Saddle and Morgan and Co MCS were stable at $2.2500 and $24.5000. Datvest and MIZ ETFs tumbled 0.47% and 0.30% to end pegged at $1.4904 and $1.2961 apiece. The Tigere REIT was unchanged at $50.6200 on 395 shares.