Market Comment - 01.03.2023

ZSE gains persist into the new month... The market maintained gains into the first session of the new month as the All Share Index stepped up 2.23% to 29299.06pts while, the Blue-Chip Index was 0.99% firmer at 17151.32pts. The Mid Cap Index rose 1.68% to 64025.41pts while, the Agriculture Index shot up 2.36% to 124.58pts. Zimplow headlined the winners of the day on 13.33% jump to $34.0000, followed by hotelier RTG that surged 11.64% to $13.4524. First Mutual Properties edged up 9.53% to $16.7575 as Zimre Holdings grew 9.36% to $11.0000. Bankers CBZ Holdings capped the top ten gainers’ pack on 9.04% uplift to settle at $155.3846. Spirit and wines producer AFDIS led the two laggards of the day on a 1.67% drop to $280.1923 while, life assurers Fidelity retreated 1.19% to $29.0000. The market closed with a positive breadth of twenty-four as twenty-six counters rose against two that faltered. Activity aggregates were mixed in the session as volumes traded slipped 30.37% to 1.57m shares while, the value traded ballooned 86.37% to $838.44m. CFI Holdings was the top traded counter by volume and value as it claimed 72.89% of the former and 94.30% of the latter. Foreign inflows dropped 84.36% to $2,325,550.00 while, outflows went down by 100% to $1,330.90 to register a net funds inflow position. On the VFEX market, Padenga and SeedCo International were active in a session as they eased 11.72% and 1.26% to USD$0.2207 and USD$0.4407 respectively. A total of 4,148 shares worth USD$915.5600 exchanged hands in the two counters. Datvest ETF declined 1.58% to $1.8725 while, the MIZ ETF trimmed 3.14% to $1.4044. OMTT ETF gave up 0.61% to $8.5192 while, on the contrary Morgan and Co MCS ETF put on 4.51% to settle at $23.0000. The Tigere REIT added 0.26% to close at $43.7396 as 2,024 units traded.