Market Comment - 14.06.2023

Market rebounds in mid-week session... The market rebounded in the midweek session after a minor setback in the previous session. The primary All Share Index surged 2.84% to 185,349.94pts while, the Blue-Chip Index rose 2.52% to 114,023.47pts. The Agriculture Index added 0.46% to 667.28pts while, the Mid-Cap Index soared 10.19% to 333,434.86pts. The duo of First Mutual Properties and FBC Holdings headlined winners of the day on a similar 14.99% rise to settle at $104.3000 and $471.4000 respectively. Spirit and wines manufacturer AFDIS advanced 14.94% to $1,637.0000 while, brick manufacturer Willdale edged up 13.21% to $12.0000. Ariston Holdings completed the top five gainers’ pack on a 12.96% uplift to $19.4881. Leading the losers’ list was Nampak that shed 7.62% to settle at $55.0000 while, First Mutual Holdings trimmed 6.53% to $70.0989. Fintech group Ecocash Holdings slipped 4.37% to $188.4981 while, Meikles tumbled 1.82% to close pegged at $2,357.1429. Zimplow Holdings capped the top five laggards of the day on a 1.15% drop to $110.0000. The market closed with a positive breadth of six after sixteen counters registered gains against ten that lost grip. Activity aggregates were enhanced in the session as volumes traded climbed 710.39% to 20.11m shares while, value outturn ballooned 1,869.93% to $26.20bn. Nampak, NMB and Mashonaland Holdings were the top volume drivers of the day after contributing a combined 97.53% to the total. The top value drivers of the day were NMB (45.61%), Nampak (21.14%) and Delta (12.83%). On the ETF section, Datvest and MIZ firmed up 13.01% and 9.78% to $12.9963 and $6.4000 respectively. In contrast, Cass Saddle lost 0.01% to $4.5494 while, the Morgan & Co MCS trimmed 8.23% to $145.0000. The Old Mutual ETF dropped 0.16% to end the day pegged at $45.9107. The Tigere REIT grew 14.83% to $301.5588 as 1,283 units exchanged hands.