EFE Securities •

3 weeks ago •

Market Commentary

MARKET COMMENT -2024-04-05

ZSE ekes out gains…

The ZSE retreated in week-ending session as the mainstream All Share Index put on 0.12% to end at 915,605.88pts. The ZSE Agriculture Index edged up 5.75% to 2,441.74pts while, the Mid Cap Index added 0.05% to 3,409,471.43pts. The ZSE Top Ten Index dropped 0.66% to close to 407,902.98pts. SeedCo Limited led the rising tide on a 14.94% uplift to $5,192.9462. Hippo trailed on a 14.47% rise to end pegged at $8,700.0000 while, packaging group Nampak charged 6.09% to $1,080.0000. Zimre holdings Limited gained 4.84% to settle at $536.7790 while, banking group CBZ capped the top five risers of the day on a 2.84% to $9,913.2178. Trading in the negative territory was telecoms giant Econet that dropped 4.92% to $4,650.3902. Meikles eased 4.00% to $7,200.0000 as Turnall trimmed 3.94% to $69.1663. ART held the fourth position after letting go 3.48% to $202.7000 as brick maker Willdale completed the top five shakers of the day on a 0.35% loss to $100.0000.

Activity aggregates were mixed in the session as volumes declined 4.57% to 1.47m shares while, turnover grew 42.52% to $10.64bn. Volume drivers of the day were Delta, Econet and Star Africa with a combined contribution of 68.21%. Delta and Econet were the top value drivers of the day on respective contributions of 73.41% and 17.12%. The Cass Saddle ETF garnered 14.96% to $11.3900 while, the Old Mutual ETF firmed 6.95% to $229.9457. Morgan and Co MCS rose 3.58% to end at $916.6667. A total of 56,337 units worth $12.77m exchanged hands in the ETF section. The Revitus Property Opportunities went up 0.05% to $560.0000 on 247,361 units while, the Tigere REIT was stable at $1,100.0000 as 20,459 units traded.