Market Comment - 09.03.2023

ZSE ends Thursday’s session in marginal gains... The market ended Thursday’s session in marginal gains as three of the main indices closed in the black while, Mid-cap was in the red. The mainstream All Share Index advanced 0.64% to 29467.69pts while, the ZSE Top Ten Index rose 0.99% to end at 16990.67pts. The Agriculture Index went up 0.17% to 125.97pts as the Mid Cap Index eased 0.27% to close at 65290.58pts. Leading the winners of the day was Bridgefort Capital Class B that surged 12.69% to $29.3000 on a paltry 300 shares. Trailing was Mashonaland Holdings that put on 11.32% to $10.0000 as agriculture concern Ariston followed thereafter on a 4.17% lift to $11.4582. Financial services group ZB edged up 3.30% to $118.8000 as Delta jumped 2.06% to close at a vwap of $531.2108 having traded an intra-day high of $598.0000. Trading in the negative territory was Proplastics that dipped 12.05% to $70.3160 followed by bankers First Capital that shed 2.70% to $18.0005. Retailer OKZIM trimmed 0.81% to $55.5775 as VFEX bound African Sun declined 0.71% to $92.0000. Ecocash completed the top five fallers’ pack on a 0.07% dip to $65.8657. Volumes traded plunged 55.80% to 7.05m while, turnover tumbled 55.88% to $544.40m. Volume leaders of the day were First Capital and OKZIM that accounted for 45.59% and 27.63% of the aggregate apiece. Anchoring the value aggregate was Delta, OKZIM and AFDIS that claimed a combined 66.38% of the outturn. On the VFEX, Padenga succumbed 11.60% to $0.2210 as Axia recoiled 0.86% to $0.1386. Bindura, Innscor and Simbisa retreated 0.50%,0.37 and 0.05% apiece. SeedCO International was the sole gainer on the VFEX as it improved 3.05% to $0.2700. On the ETF segment, the four ETFs recorded gains as 128,318 units worth $447,828.95 traded. Datvest MCS, Cass Saddle, Morgan and Co MCS and OMTT soared 2.25%, 1.86%, 1.67% and 0.33% in that order with MIZ sailed stable at $1.4000. A total of 1.33m units valued at $60.03m exchanged in the Tigere REIT to see it close at $45.0028 after a 5.63% decline.