Market Comment - 26.04.2023

ZSE records gains for the fifth consecutive session… The market recorded gains for the fifth consecutive session as the primary All Share Index rose 2.27% to 39198.63pts while, the Blue-Chip Index firmed 1.40% to 22506.27pts. The Mid Cap Index put on 4.73% to 86378.87pts while, the Agriculture Index went up 0.01% to 169.45pts. Proplastics and Masimba Holdings led the gainers of the day on a similar 14.99% jump to settle at $136.8000 and $191.7500 respectively. FBC Holdings climbed 14.96% to $146.0000 while, fintech group Ecocash Holdings advanced 14.94% to $49.9000. General Beltings capped the top five winners’ pack on a 14.92% uplift to end pegged at $2.8100. Headlining the laggards of the day was First Mutual Properties that lost 8.02% to $18.0000, followed by brick manufacturers Willdale that retreated 7.96% to $3.5501. Packaging group Nampak slipped 3.33% to $29.0000 while, beverages giant Delta eased 0.73% to $790.2397. OKZIM completed the fallers’ set on a marginal 0.0012% loss to close the day pegged at $57.0018. The market closed with a positive breadth of twelve as seventeen counters registered gains against five counters that faltered. Activity aggregates were mixed in the session as volumes traded ballooned 108.79% to 13.41m shares while, turnover succumbed 51.97% to $896.76m. The top volume drivers of the day were Willdale and OKZIM that claimed 44.02% and 40.43% apiece. Delta and OKZIM were the top value drivers of the day after contributing a combined 85.55% of the aggregate. On the ETFs section, Datvest grew 13.39% to $1.7013 while, Old Mutual ETF added 0.10% to $9.3600. On the contrary, Cass Saddle and MIZ ETFs shed 0.07% and 3.41% to $2.0500 and $1.9800 respectively. Morgan & Co MCS ETF trimmed 7.83% to $28.0000. The Tigere REIT gained 0.03% to close the day at $50.5272 after 2,243 units exchanged hands.