Market Comment - 10.05.2023

ZSE takes a breather in mid-week session... ZSE took a breather in the midweek session as the primary All-Share Index dropped 0.79% to 58885.96pts while, the Blue-Chips Index lost 2.55% to 35576.01pts. In contrast, the Agriculture Index rose 0.09% to $222.49 while, the Mid-Cap Index firmed up 5.47% to 111996.55pts. Masimba Holdings headlined the gainers of the day after a 15% jump to $290.9500, followed by First Mutual Properties that surged 14.00% to $31.4639. Bankers First Capital put on 13.81% to $47.8355 while, milk processors Dairibord advanced 13.80% to end the day pegged at $182.2973. Mash Holdings capped the top five gainers’ pack on a 13.51% to close at $21.0000. Turnall led the laggards of the day on a 10.59% slump to $7.6000 while, BAT slipped 7.50% to settle at $6,289.9750. Conglomerate Meikles trimmed 6.73% to end pegged at $601.8028 while, beverages manufacturer Delta eased 3.12% to $1,244.3835. Tea producers Tanganda completed the top five losers’ pack on a 2.69% decline to close at $470.0000. The market closed with a positive breadth of three after fourteen counters recorded gains against eleven fallers. Activity aggregates were depressed in the session as volumes traded succumbed 8.52% to 54.01m shares while, the value outturn plummeted 43.79% to $1.90bn. Turnall claimed a massive 96.03% of the volume aggregate. Top value drivers of the day were Delta (57.29%), Turnall (20.74%) and Econet (11.08%). Foreigners were net sellers in the session as purchases amounted to $26.79m while, sales stood at $115.17m. In the ETF section, Datvest and MIZ ETFs climbed 14.98% and 0.24% to $3.3000 and $2.2454 respectively. Morgan and Co MCS ETF ticked up 2.14% to $32.0000 as the Old Mutual ETF inched up 0.42% to $10.1121. The Tigere REIT gained 0.31% to close at $50.6144.