Market Comment - 22.02.2023

Market resumes on a slow note... The market resumed on a slow note as activity aggregates were depressed in the mid-week session. Volume dropped 39.04% to 1.52m shares while, turnover tumbled 58.15% to $170.58m. The market closed with a positive breadth as eighteen counters gained ground against two that faltered. The primary All Share Index rose 1.11% to 27925.98pts while, the Blue-Chip Index added a similar 1.11% to 16932.11pts. The Mid-Cap Index advanced 1.08% to 58980.56pts while, the Agriculture Index put on 1.19% to 115.45pts. Tea producers, Tanganda jumped 14.98% to $216.4500, followed by Turnall Holdings that surged 14.91% to $5.7500. Bankers CBZ Holdings grew 13.89% to $140.0000 while, apparel retailers Edgars climbed 6.92% to $13.9000. Fintech group Ecocash Holdings completed the top five winners’ list on a 5.83% uplift to $65.9971. Seed manufacturer Seed Co Limited headlined the laggards of the day on a 4.52% retreat to $190.0000, trailed by Axia that dipped 2.51% to $130.6403. General Beltings sunk 0.07% to $1.6013 while, BAT capped the shakers’ list on a 0.04% slump to $2,773.0000. OK Limited, Star Africa, AFDIS and Axia were the top volume drivers of the day as they claimed a combined 76.30% of the aggregate. The top value drivers were AFDIS (36.82%), Delta (20.13%), Econet (13.19%) and Axia (12.85%). On the VFEX, Bindura and Padenga shed 20.00% and 0.12% to USD$0.0168 and USD$0.2497. On the contrary, SeedCo International eased 0.04% to USD$0.2600 while, Simbisa slipped 2.15% to USD$0.4315. Cass Saddle ETF and Datvest ETF rose 7.11% and 6.61% to $2.4100 and $1.8124 apiece. MIZ ETF advanced 1.31% to $1.4183. MCMS ETF and OMTT ETF ticked up 1.50% and 11.73% to $21.8215 and $9.0000 accordingly. The Tigere REIT swelled 0.86% to $48.6647.