Heavies drive activity in Wednesday’s session…
Selected heavies drove activity in Wednesday’s session as volume exchanged and market spent ballooned, with most of the trades being switches. Volumes jumped 414.09% to see circa 27.13m shares worth $8.36bn exchange hands. This represented a 243.09% increase in turnover. OK Zimbabwe and Econet drove the volume aggregate with respective contributions of 72.44% and 24.40%. The threesome of OK Zimbabwe, Econet and Delta anchored the turnover totals, claiming a shared 98.40% of the aggregate, leaving other counters sharing the remainder of 1.60%. In the ETF category, only two funds registered trades with the Datvest MCS ETF closing 9.59% higher at $8.0000 while, the Old Mutual Top 10 ETF eked out a 0.02% gain to settle at $34.68000. The Tigere REIT added 2.05% to close trading at $245.0000 on a paltry 750 units.
Headlining the gainers of the day was TSL that surged 15.00% to close at circuit breaker level of $905.6500, trailed by digital media group Zimpapers that inched up 14.89% to $22.0009. Life assurer Fidelity garnered 13.51% to close pegged at $180.0000 while, property concern Mashonaland Holdings firmed up 9.29% to $153.0000 where supply could be found. Retailer OK Zimbabwe capped the top five winners of the day on a 5.36% gain to close at a VWAP of $169.9989. Trading in the negative territory was brick manufacturer Willdale that plummeted 2.97% to $26.0028 while, sugar processor Star Africa retreated 0.83% to $4.9358, post the release of its FY23 results in which they reported a loss of $1.73bn. Zimre Holdings Limited eased 0.09% to close trading at $127.0000 while, hotelier RTG slipped 0.05% to $129.9286. All the four indices we review closed in the black as the All-Share Index notched up 1.16% to $172,188.22pts. The Top 10 Index added 0.75% to 76,741.09pts while, the Agriculture Index gained 2.36% to 587.62pts. The Mid Cap Index was 2.09% firmer at 688,676.38pts.