Market Comment - 13.02.2023

ZSE takes a breather... The ZSE took a breather in the week-opener as profit taking took its toll. The primary All Share Index tripped 2.29% to 29257.89pts while, the ZSE Top Ten Index shed 3.35% to end at 18446.29pts. On the contrary, the Mid Cap Index improved 0.73% to 56004.49pts while, the ZSE Agriculture Index added 0.07% to close at 112.68pts. Leading the fallers’ pack was bankers CBZ that succumbed 12.12% to $145.0000. Beverages group Delta followed on a 7.57% plunge to close at a vwap of $600.0178 having traded an intraday low of $600.0000. First Capital dropped 4.47% to $18.1436 while; brick makers Willdale came off 4.46% to $2.6000. Zimre Holdings capped the top five decliners of the day on a 2.16% tumble to $8.9000. Partially offsetting the losses of the day were Mashonaland Holdings that jumped 14.27% to trade at $8.0000 while, Ariston surged 8.98% to $4.4943. Packaging group Nampak notched 7.53% to $20.0000 as hotelier African Sun rallied 4.75% to $52.0456. Star Africa completed the top five winners’ pack on a 4.12% lift to $2.0000. Volume of shares traded tumbled 75.17% to 3.45m while, turnover plummeted 80.46% to $443.62m. Volume leaders of the day were African Sun, Econet and OKZIM with respective contributions of 36.02%, 18.19% and 16.34%. Econet, Innscor, African Sun, Tanganda and Delta anchored the value outturn with a combined contribution of 84%. On the VFEX, Simbisa and Seedco International let go 2.05% and 0.08% to close at USD$0.4212 and USD$0.2598 respectively. Bindura, National Foods and Padenga were unchanged at USD$0.0214, USD$1.8100 and USD$0.2865. A total of 73,234 shares worth USD$31,871.92 exchanged hands on the VFEX. The Old Mutual ETF rose 2.53% to $9.1024 while, the Datvest ETF added 0.02% to $1.6005. The MIZ ETF trimmed 1.89% to end pegged at $1.3147 while, Cass Saddle and Morgan and Co MCS were stable at $2.2500 and $25.0000 apiece. The Tigere REIT traded 1,157 units at $50.6100.