Market Comment - 28.02.2023

Market registers steady gains in month-end session... The ZSE recorded gains in the month end session to see all the benchmark indices we review close in the positive. The primary All-Share Index was up 0.43% to 28548.09pts while, the ZSE Top Ten Index inched up 0.27% to 16983.33pts. The ZSE Agriculture Index was the major gainer amongst its kind as it grew 2.44% to finish at 121.71pts while, the Mid Cap Index rose 0.80% to end the day at 62970.45pts. Leading the winners of the session was CFI Holdings that soared 14.83% to $653.0000 while, Proplastics followed on a 9.18% surge to $69.8721. Property concern Mashonaland Holdings rose 8.14% rise to $8.8673 as hotelier RTG added 7.24% to $12.0500. Capping the top fiver risers was Star Africa that advanced 5.26% to $1.7916. Retailer OKZIM was the worst faller of the day after dropping 9.64% to $52.3977, trailed by brick makers Willdale that declined 9.29% to $2.7214. Apparel retailer Edgars tumbled 8.45% to $13.0000 while; Zimre Holdings shed 6.87% to $10.0586. Getbucks which is trading under cautionary succumbed 6.87% to $10.0586. Activity aggregates were improved in the session as the value outturn jumped 225.74% to $449.87m while, volume of shares traded climbed 44.60% to 2.25m. Delta claimed a gigantic 70.32% of turnover and 26.74% of the total volumes traded. Other notable volume leaders were OKZIM (34.67%) and Econet (8.63%). Foreigners were net sellers in the session as purchases stood at $14.87m against sales of $269.57m. On the VFEX market, SeedCo International dropped 0.44% to USD$0.3150 on 709,896 shares as Innscor Africa came off 4.75% to USD$0.7983 on 5,168 shares. Simbisa notched 0.29% to end at USD$0.4508. On the ETF front, Cass Saddle slid 1.72% to $2.1000 on 25,200 units while, the Old Mutual Top Ten retreated 2.04% to $8.5718 on 35,422 units. The Tigere REIT gave up 2.40% to $46.6235 as 3,228 units exchanged hands.