Market Comment - 20.01.2023

ZSE ends week in minimal gain... The market ended the week in marginal gains as the mainstream All Share Index put on 0.19% to close at 21665.00pts. The ZSE Top Ten Index rose 0.27% to cap the week at 13385.60pts. The Agriculture and the Mid Cap Indices dropped555 0.55% and 0.03% to close at 88.58pts and 43608.44pts apiece. Headlining the winners’ pack was packaging group Nampak that jumped 15.00% to settle at $13.8000. Trailing was property concern FMP that surged 8.33% to $13.0000. Banking group First Capital rebounded 6.36% to $14.0006 as brick makers Willdale rallied 5.71% to $3.7000. Zimplow capped the top five winners of the day on a 3.23% uplift to $24.0000. Trading in the negative territory was Dairiboard that succumbed 14.48% to $47.0000 as NMB plunged 4.63% to $41.9608. African Sun retreated 4.06% to end pegged at $28.9273 while, Meikles skidded 2.79% to $150.0000. Completing the top five shakers of the day was Proplastics that shed 0.57% to $35.0000. Gaining stocks outweighed fallers by a count of ten, to see the market close with a positive breadth. Volumes of shares traded ballooned 192.52% to 3.95m to yield a turnover of $692.20m which was a 167.09% surge from the prior session. Volume drivers of the day were Econet, Delta and OKZIM that accounted for 36.80%, 19.38% and 18.98% respectively. Value outturn was anchored by Delta, Econet and Innscor that claimed a shared 91.94% of the total. A total of 119,479 shares worth USD$64,787.93 exchanged hands on the VFEX. Padenga improved 1.22% to USD$0.2981 while, National Foods extended 1.12% to USD$1.8100. Simbisa ticked up 0.08% to USD$0.4799 while, on the contrast SeedCo International shed 0.11% to USD$0.2797. The Cass Saddle ETF was the top gainer amongst the ETFs as it edged up 11.33% to $2.2044 while, the MIZ enhanced 1.50% to $1.3000. The Datvest MCS and the Old Mutual ETF slumped 4.96% and 0.01% to finish at $1.5016 and $7.4894 respectively.