Market Comment - 31.05.2023

ZSE ends month in black... The ZSE recorded gains in the month-end session as the primary All Share Index rose 0.93% to 105154.12pts while, the Blue-Chip Index improved 0.53% to 64082.88pts. The Agriculture Index firmed up 3.95% to 391.09pts as the Mid Cap Index gained 2.34% to 194823.54pts. Duo of TSL Limited and ZB Financial Holdings headlined the gainers of the day as they gained 15.00% to close at $345.0000 and $277.5500 respectively. Bankers CBZ Holdings advanced 14.99% to $804.5000 while, spirits and wines manufacturer Afdis climbed 14.95% to settle at $1115.0000. Seed producers, Seed Co completed the top five winners pack of the day on a 14.79% surge to settle at $970.0000. Cigarette manufacturer, BAT led the laggards of the day as it slumped 13.13% to $5400.0000, followed by Edgars that dropped 13.04% to close at $50.0019. Zimplow was 10.35% weaker to settle at $75.0108 while, fintech group Ecocash Holdings retreated 0.14% to $138.0048. Ariston Holdings capped the top five fallers list of the day on a 0.05% dip to end the day pegged at $17.9915. The market closed on a positive breadth of thirteen after nineteen counters registered gains against six that faltered. Activity aggregates were depressed in the session as volumes plummeted 83.21% to see 1.63mn shares trade while, turnover succumbed 69.07% to $878.3mn. Edgars highlighted today’s volume as it contributed 75.46% of the aggregate while, Zimplow was the other notable volume contributor claiming 13.86%. The top value drivers of the day were BAT (27.35%), Delta (26.92%) and Edgars (25.31). A total of 69,431 units worth $590,968 exchanged hands on the ETF market. Cass Saddle jumped 11.12% to $3.45000 while, the Datvest MCS soared 13.80% to $5.6977. OMTT ETF edged up 7.28% to settle at $24.5219. Tigere REIT inched up 14.76% on 3,200 units to close the month at $118.5163.