Market Comment - 27.04.2023

Market maintains bullish momentum... The ZSE maintained prior session gains in the penultimate session of the week as the All-Share Index advanced 3.79% to 40683.52pts. The Top 10 Index jumped 4.32% to 23479.34pts anchored by gains in Hippo, BAT, Ecocash and Econet. The ZSE Agriculture Index put on 7.67% to close at 182.45pts as the Mid-Cap Index rose by 2.45% to 88493.21pts. Packaging group Proplastics led the gainers of the day as it garnered 14.98% to $157.2972 trailed by Hippo that surged 14.39% to $795.0000. BAT notched up 14.25% to end pegged at $6800.0000 while, Ecocash grew 13.63% to $56.7025 on resurgent demand. Telecoms giant Econet capped the top five winners list of the day with a 12.79% gain to $265.3203. Media group Zimpapers headlined today’s losers as it dropped 10.72% to $5.9817 as retailer OKZIM parred 10.47% to $51.0354. Sugar processor Star Africa plunged 4.12% to $2.2526 as First Mutual Properties succumbed 2.78% to $17.5000. Turnall Holdings retreated 1.50% to $7.5000 as it fastened the top five worst performers of the day. Activity aggregates traded mixed in the session as volumes traded declined 51.58% to 6.50m while, turnover surged 39.30% to $1.25 billion. OK Zimbabwe, Econet, Ecocash and Delta led the volume aggregates with respective contributions of 32.22%, 20.99%, 18.02% and 10.83%. Blue chips duo :Delta and Econet drove were the top value traded counters with a combined aggregate of 71.09%. Cumulatively the ETFs traded 766,085 units worth $1,378,573.12. Datvest and MIZ gained 2.53% and 4.25% to close at $1.7443 and $2.0642 respectively. On the contrary Cass Saddle trimmed 0.49% to close at $2.0400. The Tigere REIT dropped 0.03% to close the day at $50.4973 as 278,967 units exchanged hands.