Market Comment - 04.04.2023

ZSE rebounds in Tuesday''s session... The ZSE rebounded in Tuesday’s session as the primary All-Share Index added 0.33% to 38,306.84pts while, the Midcap Index went up 0.68% to 76,743.62 pts. The Top 10 Index surged 0.22% to 22738.07pts while, on the contrary the ZSE Agriculture Index marginally dropped 0.02% to 145.67pts. Bankers NMB led the gainers of the day on a 15.00% jump to $60.95000 followed by sugar processor Star Africa that grew 10.03% to $1.6874. First Mutual Holdings advanced 10.00% to $22.0000 as apparel retailer Truworths firmed up 9.56% to $2.7000. Hotelier RTG capped the top five risers set of the day on a 3.70% uplift to $14.0000. On the losers end Property concern Mashonaland Holdings declined 6.14% to $13.0785 while, First Capital bank retreated 5.30% to $30.1498. Retailer OK Zimbabwe gave up 2.94% to $65.0159 as Hippo Valley weakened 0.96% to $620.0000. Ariston Holdings completed the list on a 0.52% slide to $10.1143. Activity aggregates were improved in the day as volume of shares traded soared 129.52% to 5.28m while value outturn swelled up 168.51% to $1.13bn. Econet, Ecocash, OKZim and Delta proved to be the counters of choice in the session as they contributed 82.56% of the volume of shares traded while, Econet and Delta contributed 76.07% of the value. On the VFEX a total of 1,133,289 shares worth USD$351,126.45 traded. Seed Co International gained 0.15% to USD$0.2610. Axia and Simbisa Brands dipped 4.55% and 0.07% to close at USD$0.1050 and USD$0.4197 respectively. Bindura, Caledonia, Innscor, NatFoods, Nedbank and Padenga were unchanged at previous trading levels. MIZ increased 5.25% to $2.1100 as Morgan & Co MCS closed 4.58% at $31.0000. Datvest and Old Mutual ETF fell 0.54% and 0.06% to end pegged at $1.8500 and $9.4943 apiece. The Tigere REIT slipped 1.06% to $50.0854. Elsewhere, Masimba released its FY22 results where it posted at PAT of ZWL$12.36 billion and declared a dividend of 0.315 US cents per share.