EFE Securities •

7 months ago •

Market Commentary

ZSE retreats further…

The market retreated further in the mid-week session as the Primary All Share Index lost 6.81% to 120,545.94pts while, the Blue-Chip Index fell 9.60% to 52,069.58pts. The Agriculture Index eased 3.42% to 498.30pts while, the Mid Cap Index shed 2.15% to 501,276.89pts. General Beltings led the laggards of the day on a 20.00% drop to $10.0000, followed by Mashonaland Holdings that declined 15.00% to settle at $136.0000. Clothing retailer Edgars eased 15.00% to end pegged at $102.8558 while, Seed Co Limited shed 14.82% to close at $556.2294. Beverages giant Delta capped the top five decliners of the day on a 14.68% slump to close at $1,948.2754. Two counters that traded in the positive territory were First Mutual Properties and Zimre Holdings Limited that ticked up 15.00% and 0.29% to end the day pegged at $143.7500 and $86.0000 respectively. The market closed with a negative breadth after nineteen counters faltered against two that recorded gains.

Activity aggregates enhanced in the session as volumes traded ballooned 1,110.42% to 5.93m shares while, turnover grew 1,822.53% to $4.14bn. Meikles highlighted the aggregates of the day after claiming 79.11% of the total volumes traded and 73.63% of the value outturn. The other notable value driver of the day was Delta which accounted for 21.66% of the aggregate. Amongst the ETFs, Datvest and Old Mutual ETFs gave up 4.08% and 6.83% to end at $5.5153 and $24.9216 apiece. Morgan & Co ETF was stable at $212.7800 as 3,075 units exchanged hands.