EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT 17.10.2023

ZSE stretches gains…
The market stretched gains in Tuesday’s session to see the All Share Index closing 0.25% higher at 139,402.43pts while, the Top Ten Index recorded a 0.29% rise and settled at 61,704.06pts. The Mid Cap Index edged up 0.09% to end at 564,649.86pts as the ZSE Agriculture Index shed 0.02% to 513.92pts. Clothing retailer Truworths led the risers of the day on a 14.08% jump to $30.5000, followed by First Mutual Holdings that surged 14.06% to $405.0000. Beverages giant Delta ticked up 0.82% to $2400.1000 as tea company Tanganda added 0.54% to $925.0000. Fintech group Ecocash Holdings rose 0.24% to $132.0000 as it capped the top five winners set. Leading the fallers of the day was packaging company Nampak which dropped 6.96% to $335.0000, trailed by Zimre Holdings Limited that trimmed 5.00% to $95.0000. Construction group Masimba gave up 1.25% to $790.0000 as seed manufacturer SeedCo Limited lost 1.06% to settle at $637.1500. Hotelier RTG capped the top five losers of the day on a 0.72% decline to $137.0000.
 
Activity aggregates improved in the session as volumes traded shot up 112.35% to 1.22m shares while, turnover jumped 135.58% to $718.79m. Volume drivers of the day were Econet (42.97%), OK Zimbabwe (17.23%) and Delta (11.43%). Delta and Econet claimed a combined 80.94% of the value aggregate. A total of 33,798 units worth $1.63m exchanged hands as Old Mutual ETF lost  1.933% to $29.3241 while, Datvest ETF slid 0.2191% to $6.5456. The Tigere REIT declined 0.2014% to $239.0575 on 8,700 units.