Market Comment - 15.06.2023

ZSE records slight gains in Thursday’s trades... The market recorded marginal gains in the penultimate session of the week as the All-Share Index rose 1.24% to close trading at 187,657.43pts. The Blue-Chip Index was up 0.45% to settle at 114,538.80pts while, the Agriculture Index added 2.70% to end at 685.31pts. The Mid-Cap Index was the major gainer amongst the indices we review as it surged 4.08% to 347,044.03pts. The trio of AFDIS, FBC and CFI led the risers of the day as they surged a similar 15.00%, to settle at $1,882.5500, $542.1000, and $1,937.9000 respectively. Agriculture logistics group TSL buttressed prior session’s gains as it soared 14.29% to trade at $800.0000 while, banking group CBZ fastened the top five gainers’ list of the day on a 12.91% climb. Conglomerate Meikles led the fallers’ pack on a 10.91% slump to end pegged at $2,100.0000. Telecommunications giant Econet declined 2.90% to settle at a VWAP of $1,052.2470 while, retailer OK Zimbabwe whose results are now imminent retreated 2.48% to $297.4683. Sugar processor Star Africa eased 1.04% to $6.0959 while; beverages giant Delta closed at $3,983.9978 following a 1.01% loss. Activity aggregates were depressed as volumes traded fell 57.10% to 8.63m shares while, turnover declined 87.08% to $3.39bn. Market capitalisation increased by 1.28% to $14.36 trillion. Nampak and Mashonaland holdings drove the volume aggregate as they contributed a combined 71.72% of the total. CFI and Delta anchored today’s turnover claiming 48.67% and 18.66% of the value traded respectively. In the ETF category, a total of three counters rose while, the remaining two were stable at prior sessions trading prices. Old Mutual Top Ten led the risers’ list as it jumped 13.26% to $52.0000 while, Cass Saddle and the Datvest MCS ticked up 0.09% and 0.03% respectively. The Tigere REIT closed 0.14% higher at $301.9713 as 8,697 units exchanged hands.