Market Comment - 14.03.2023

Market upbeat in Tuesday session... The ZSE capped the day in the green as the three of the four indices we review closed the day pointing northwards. The All-Share Index climbed 1.88% to 31487.89pts, the Top 10 Index went up 2.53% to 18508.83pts while, the Mid-Cap Index gained 0.08% to end pegged at 66002.41pts. On the contrary, the Agriculture Index was the only faller amongst its kind as it slipped 0.04% to 126.97pts. Leading gainers of the day was bankers CBZ Holdings that advanced 14.24% to $160.0000 followed by Econet with a 7.80% rise to $207.6504. Turnall added 5.96% to close at $8.0000, as life assurer Fidelity Life surged 3.45% to $30.0000. Proplastics recovered from prior sessions losses as it surged 1.59% to $71.1128 to cap the top five best performers of the day. Clothing retailer Truworths headlined the laggards of the day as it faltered 14.91% to $2.3825 while Star Africa trimmed 3.95% to $1.6547. Agriculture concern Ariston Holdings shed 1.78% to $11.0010 while, hotelier African Sun slipped 0.48% to $90.4939. First Mutual Properties fastened the top five worst performers of the day on a 0.32% loss to end at $15.4500. Activity aggregates were traded mixed in the session as turnover slipped 62.07% to see $398.65m exchange hands while, volume traded jumped 62.07% to 5.28m. The volume leaders of the day were First Capital (27.89%), OKZim (24.40%) and Truworths (15.20%). Trio of Delta, OKZim and Afdis claimed a combined 67.46% of the aggregate while, Econet and its subsidiary Ecocash accounted for 6.79% and 6.70% respectively. The VFEX traded a total of 53,111 shares as Padenga Holdings firmed up 13.12% to USD$0.2500. Innscor dropped 3.38% to USD$0.6745 while, Axia lost 2.17% to USD$0.1350. Seed Co International eased 0.19% to USD$0.2695 as Simbisa retreated 0.07% to USD$0.4297. In the ETF category a total 16,098 units worth $132,308.30 traded in the session. The Old Mutual ETF and Morgan & Co Multi Sector were flat at $7.9100 and $22.000 apiece. The Tigere REIT rose 3.81% to close trading at $49.9643 as 393,952 units traded.