Market Comment - 01.02.2023

ZSE records gains in a new month as NTS dominates session... The market recorded gains in the new month session as the primary All Share Index added 2.84% to 23461.00pts while, the Mid-Cap Index rose by 1.50% to 48923.22pts. Milk processors Dairibord Holdings Limited led the winners pack on 14.09% jump to close at $68.2800, followed by NMBZ that advanced 11.18% to $40.0000. Financial group, FBC Holdings grew 9.23% to $66.0500 while, Zimre Holdings climbed 8.29% to $7.6600. Tea producers Tanganda capped the gainers list of the day on an 8.21% uplift to close the day pegged at $168.0000. Getbucks Microfinance led the laggards of the day on a 7.06% slump to settle at $20.0000 while, Willdale Limited dropped 2.58% to $2.9713. Meikles Limited slipped 2.01% to $158.1648 as bankers Cbz Holdings declined 1.36% to $145.0000. Conglomerate group Ariston fastened the losers pack on a 1.12% retreat to $4.5279. Activity aggregates enhanced in the session as volumes traded went up by 612.09% to 46.21mn shares while, turnover soared 115.78% to $1.29bn. NTS dominated the total outturn of the day as it contributed 95.51%. Econet (2.00%), Delta (0.84%) and Innscor (0.84%) were also part of the value drivers of the day. National Tyre Service, Innscor, Delta and Econet were the top volume drivers of the day as the quartet contributed a combined 97.17% to the total volume traded. On the VFEX, Bindura dropped 10.835 to 0.0214 while, in contrast Simbisa ticked up 3.67% to $0.4458. Three ETFs registered trades in the session as the Datvest ETF maintained its previous price of $1.5000 with 12,700 shares exchanging hands. OMTT and MIZ climbed 0.001% and 0.26% to $7.5603 and $1.3000 respectively. Tigere REIT remained unchanged at $50.6200 on 1,295 shares.