Market Comment - 25.04.2023

ZSE holds winning impetus… The market held the winning momentum in Tuesday’s session to see the All-Share Index extend 2.34% to close at 38326.89pts while, the ZSE Top Ten Index rose 2.42% to 22194.68pts. The ZSE Agriculture Index was the biggest gainer amongst the indices we review as it ticked up 4.57% to 169.44pts while, the Midcap Index ended 2.15% firmer at 82477.94pts. Masimba Holdings led the top five risers of the day on a 15.00% increase to $166.7500 while, BAT advanced 14.99% to $5,952.0000. First Mutual Properties rose 14.23% to finish at $19.5698 as Mashonaland Holdings grew 12.43% to $16.9853. Hippo completed the top five winners of the day as it surged 10.66% to $695.0000. Headlining the fallers of the day was seed manufacturer SeedCo Limited that shed 4.75% to $190.5051, followed by Turnall Holdings which slipped 3.62% to $7.6143. CFI Holdings gave up 2.02% to end pegged at $663.4393 while, Zimplow was 1.37% lower at $36.0000. Retailer OKZIM capped the top five fallers’ list as it trimmed a marginal 0.74% to $57.0045. Activity aggregates improved as volume of shares traded soared 300.86% to 6.42m while, value outturn ballooned 882.07% to $1.87bn. The volume and value aggregates were dominated by the trio of OK Zimbabwe, Delta and Meikles that claimed 91.51% and 93.96% respectively. On the ETFs section, four counters closed in the positive with only Datvest losing 12.31% to $1.5004. Cass Saddle added 2.17% to $2.0515 while, the MIZ advanced 0.60% to $2.0500. Morgan & Co MCS and Old Mutual ETF firmed up 0.02% and 0.03% to close the day at $30.3800 and $9.3508 apiece. The Tigere REIT dropped 0.18% to end at $50.5073 on 6,019 units.