EFE Securities •

1 week ago •

Market Commentary

MARKET COMMENT 04.10.2024

Market resurges in week-ending session…
The ZSE market resurged in Friday’s session buoyed by gains in
selected heavies. The mainstream All Share Index put on
2.27% to close at 252.81pts while, the ZSE Top Ten Index
added 2.46% to end at 271.77pts. The Mid Cap Index rose
1.77% to 211.82pts while, the Agriculture Index lost 0.34% to
205.21pts. Star Africa garnered 44.88% to settle at $0.0249 as
banking group FBC charged 14.29% to $12.0000. Retailer
OKZIM reversed prior session’s losses as it gained 9.60% to end
the day pegged at $0.8235. RTG surged 9.43% to $0.5800
while, Econet jumped 9.18% to close with a spread of $3.5000-
$3.6860. Partially offsetting today’s gains was NMB that
dipped 12.85% to $3.0000, trailed by Zimpapers which
dropped 10.12% to $0.0629. Meikles retreated 2.94% to
$4.9500 while, Unifreight slipped 1.57% to $2.4804. Zimre
Holdings shed 0.75% to close the day at $0.3747.
Turnover plunged 93.06% to $1.52m while, volume declined
92.01% to 507,000 units. Volume drivers of the day were
Econet and Star Africa that claimed a combined 75.62%. Value
drivers of the day were Econet and Delta with a respective
contribution of 45.80% and 37.88%. Datvest MCS succumbed
13.04% to $0.0300 while, the Old Mutual ETF slid 4.68% to
$0.2002. Morgan and Co MCS edged up 15.00% to close at
$0.8596. The Tigere REIT was up 0.02% to end the day pegged
at $1.2990 as 5,503 units worth $7,148.40 exchanged hands.