Market Comment - 13.01.2023

OKZIM highlights trading session... OK Zimbabwe highlighted today’s trading session as 5.51m shares worth $247.61m exchanged hands. The trade accounted for 78.56% of the total volumes and 48.03% of the value outturn. Other notable value drivers of the day were Innscor and Econet that claimed 20.27% and 15.99% apiece. Volumes traded ballooned 145.75% to 7.29m while, turnover swelled 83.19% to $530.47m. TSL carried the market after surging 13.56% to $50.1023 trailed by packaging group Nampak that jumped 12.78% to end pegged at $10.5000. Hotelier African Sun garnered 11.11% to settle at $30.0000. Zimplow grew 11.00% to close at $22.0000 as Tanganda held the fifth position of the risers’ pack after a 7.25% uplift $114.8068. Six counters closed in the negative territory as apparel retailer Truworths emerged as the worst faller plunging 12.21% to $2.4319. Star Africa tripped 1.57% to $2.1109 while; First Capital retreated 0.61% to $16.0000. Conglomerate Innscor trimmed 0.03% to $699.9037 as Axia dropped 0.02% to $99.9007 having released a circular of its intended movement to VFEX. The market recovered in Friday’s session after a minor setback in yesterday’s trades. The mainstream All-Share Index put on 0.57% while, the ZSE Top Ten Index added a marginal 0.02% to 13860.17pts. ZSE Agriculture Index rose 1.50% to 84.18pts while, Mid Cap Index improved 2.17% to 41929.97pts. There were no trades on the VFEX. The ETFs were mixed as the Old Mutual ETF shed 5.65% to $7.0000 while, the Datvest MCS slid 0.96% to settle at $1.5000. MIZ ETF gained 8.06% to $1.3000 as Morgan and Co MCS went up 4.00% to $22.8805. A total of 1.19m units worth $2.27m were traded in the four ETFs. The Tigere REIT advanced 4.00% to $54.1697 on 273,410 units. Elsewhere, Lafarge is set to change its name to Khayah Cement after finalisation of the registration process by the Registrar of Companies.