Market Comment - 14.04.2023

ZSE ends week in loss... The market retreated for the fourth consecutive session to end the holiday shortened week in losses. The primary All Share Index slipped 0.09% to 36174.67pts while, the Blue-Chip Index shed 0.24% to 20710.73pts. In contrast, the Agriculture Index went up 0.82% to 152.22pts while, the Mid Cap Index rose 0.34% to 80404.08pts. Fintech group, Ecocash Holdings led the laggards of the day on 14.22% drop to $41.2458, followed by First Capital that slid 3.09% to $29.1374. Retailer OK Zimbabwe trimmed 1.41% to $60.2298 as TSL Limited retreated 0.59% to settle at $110.7880. Tea producers Tanganda completed the losers of the day on a 0.13% slump to end the week pegged at $339.5157. Headlining the winners of the day was property concern, Mashonaland Holdings that jumped 12.24% to $16.8355 trailed by, cigarette manufacturer BAT that climbed 6.73% to $3,500.2067. Star Africa surged 5.24% to $1.7094 while, brick manufacturer Willdale improved 2.55% to $3.6200. Clothing retailer Edgars was the fifth riser of the day on a 1.96% uplift to end the week at $26.0000. The market closed the day with a positive breadth of nine after fourteen counters gained ground against five that lost their grip. Activity aggregates were subdued in the session as volume of shares traded plunged 40.97% to 1.77m while, the value aggregate succumbed 44.23% to $754.67m. Delta, Star Africa and Ecocash led the volume aggregates after claiming a combined 86.03% of the total. Delta was the top value driver of the day after claiming 90.14% of the cake. On the VFEX, Bindura advanced 4.19% to $0.0199. Innscor and Padenga lost 3.93% and 0.15% to USD$0.6070 and USD$0.1977 apiece. Cass Saddle ETF shrunk 1.83% to $2.0000 while, MIZ ETF grew 1.77% to $1.8900. Morgan and Co MCS and OMTT ETFs tumbled 12.90% and 4.56% as the duo closed at $27.0000 and $9.5620 respectively. There were no trades in Tigere. Elsewhere, African Sun listed today on the VFEX with trading expected to commence on Monday