EFE Securities •

11 months ago •

Market Commentary

MARKET COMMENT 01.12.2023

ZSE extend gains in month opener…

The market started the last month of the year in black as the primary All share Index rose 0.50% to 192,223.42pts while, the Blue-Chip Index edged up 0.23% to 82,335.38pts. The Agriculture Index gained 0.54% to 613.69pts as the Mid Cap added 1.04% to 834,813.78pts. Life assurers First Mutual Holdings headlined the gainers of the day on a 5.00% jump followed by tea producers Tanganda that surged 4.38% to close at $1,000.0000 while, Ariston inched up 0.45% to $38.8421. Beverage giant Delta completed the top five winners of the day on a 0.40% uplift that took it to $3,522.1672. On the contrary was logistics group Unifreight that declined 12.89% to $250.0000, trailed by RioZim that slipped 2.24% to settle at $800.0000. Fintech group Ecocash Holdings retreated 0.89% to $118.9332 while, Turnall eased 0.40% to close at $24.9000. Star Africa completed the laggards of the day on a 0.32% drop to end the day pegged at $4.8282.  Six counters recorded gains against seven that faltered to leave the market with a negative breadth of one.

Activity aggregates enhanced in the week ending session as volumes traded ballooned 68.17% to 1.51mn shares while, value traded grew 88.94% to $2.36bn. CBZ Holdings dominated the session as it contributed 39.54% to the total volume traded and 61.45% to the value traded. Other notable volume drivers of the day were Econet (28.58%), Mashonaland (9.88%) and Delta (5.59%). The trio of Econet, Delta and TSL Limited contributed a combined 31.46% of the value outturn. A total of 122,842 units exchanged hands in the ETF section which saw Cass Saddle exchanging 5,000 units at a stable price of $7.5000. Datvest ETF stepped up 0.37% to $9.0331 while, the OMTT ETF fell 0.01% to settle at $32.0100. Tigere REIT advanced 8.71% to 279.3407 after 13,954 units exchanged hands.