EFE Securities •

1 year ago •

Market Commentary

Market Comment - 30.03.2023

ZSE closes in the black as heavies trade mixed... The market closed pointing northwards as two of the main indices in our review gained against two that faltered. The primary All-Share Index added a marginal 0.64% to end at 37962.05pts while, the Top Ten Index put on 0.99% to 22,543.87pts. The Mid Cap and the Agriculture Indices slipped 0.55% and 0.02% to close at 75726.76pts and 144.06pts apiece. Cigarette manufacturer BAT was the best performer of the day on a 14.07% surge to $3,274.3541 as Mashonaland trailed on a 9.09% jump to $15.0000. Beverages group Delta advanced 3.52% to $816.5193 while, construction group Masimba extended 3.27% to $142.0000. Meikles capped the top five winners of the day on a 3.17% uplift to $325.0000. Trading in the negative territory was tea company Tanganda that dropped 8.70% to settle at $315.0000. Following was Econet that dipped 3.65% to $247.1278 having traded an intraday low of $246.0000. Hotelier African Sun tumbled 2.81% to $82.9944 as fintech group Ecocash slipped 2.14% to $70.0035. Dairiboard completed the top five shakers of the day on a 2.00% loss to $98.0000. Volume of shares traded plunged 15.13% to 2.30m while, turnover nosedived 12.48% to $417.99m. Volume leaders of the day were Star Africa and Econet that contributed 56.92% and 19.95% to the aggregate respectively. Delta, Econet and BAT claimed a combined 94.27% of the value outturn. On the VFEX, two fallers of the day were Innscor and Axia that declined 10.92% and 2.04% in that order. Simbisa rose 5.70% to USD$0.4228 while, SeedCo International improved USD$0.2615. Padenga was stable at USD$0.1810 on 977,480 shares which represents 90.38% of the total volume traded on the VFEX. The Old Mutual ETF shed 8.19% to $10.0075 while, MIZ tripped 4.00% to $1.9200. Morgan and Co MCS grew 8.26% to trade at $30.9500. Cumulatively, 137,802 units worth $1.25m exchanged hands on the ETF. The Tigere REIT was up 0.02% at $50.0472 on 36,573 units.