Market Comment - 17.04.2023

ZSE in small gains ahead of Independence holiday ... ZSE commenced the week in marginal gains ahead of the Independence holiday. The mainstream All Share Index put on 0.12% to 36218.95pts while, the ZSE Top Ten Index added 0.85% to end at 20886.22pts. On the downside was the ZSE Agriculture Index that slid 2.31% to 148.70pts while, the Mid Cap Index retreated 1.83% to 78936.58pts. Telecoms giant Econet recovered 14.99% to settle at $189.8500 where it closed well bid. Star Africa jumped 13.05% to $1.9325 while, Bridgefort surged 8.11% to $10.0000. Brick manufacturers Willdale ticked 4.56% to close at $3.7851 as banking group First Capital improved 1.41% to end pegged at $29.5479. Construction group Masimba was the worst performer of the day as it dipped 11.74% to $147.1750. Trailing was Mashonaland Holdings succumbed 10.90% to $15.0000 while, apparel retailer Edgars tumbled 7.50% to $24.0497. TSL shed 7.46% to $102.5258 while, SeedCo Limited completed the top five winners’ pack on a 6.98% loss to $200.0000. Twenty-four counters were active in the session disseminated into seven gainers, fourteen losers and three that traded unchanged to see the market close with a negative breadth of seven. Activity aggregates were mixed in Monday’s session as volumes hopped 47.24% to 2.61m while, turnover dipped 14.90% to $642.26m. Ecocash and Delta were the top traded counters by volume and value as they accounted for 89.26% of the former and 97.12% of the latter. Morgan and Co MCS and MIZ gained 10.85% and 5.82% to end at $29.9286 and $2.0000 respectively. The Old Mutual ETF let go 0.22% to $9.5412 while, the Datvest ETF trimmed 0.35% to $1.8595. The Cass Saddle ETF was stable at $2.0000. A total of 400,980 units worth $848,996.00 exchanged hands in five ETFs. The Tigere REIT went up 0.17% $50.6170 on 2,364 units worth $119,658.68.