EFE Securities •
6 months ago •
Market Commentary
MARKET COMMENT 02.01.2024
ZSE extend gains in new year opening session…
The market stretched gains into the opening session of 2024 as the primary All Share Index added 1.40% to 213,789.52pts while, the Blue-Chip Index gained 2.00% to 91,886.78pts. The Agriculture Index rose 0.19% to 627.954pts while, the Mid Cap Index firmed up 0.62% to 926,216.74pts. Cable manufacturer CAFCA led the top performers of the day on a 14.98% jump to end at a $3,846.0000while, life assurer Fidelity surged 14.89% to $270.0000. Conglomerate Meikles climbed 12.27% to $1,400.0000 while, sugar processor Hippo advanced 12.27% to $2,100.0000. Fintech giant Ecocash fastened the top five gainers list of the day on a 8.29% uplift to $190.78000. Partially weighing down the market was seed technology group SeedCo Limited that faltered 13.83% to close at a VWAP of $861.7385, trailed by sugar processor Star Africa that retreated 8.10% to $7.3520. Property concern Zimre Holdings Limited eased 5.14% to settle at $174.9781 while, brick producer Willdale was 4.62% weaker at $40.2581. Retailer OK Zimbabwe capped the top five worst performers list of the day on a 0.06% loss to $213.7140.
Activity aggregates were depressed in the session as volume traded succumbed 99.14% to 1.80m shares while, value traded declined 99.07% to $643.53mn. In the volume category trading was mainly confined in Star Africa as it contributed 58.73% of the volume traded. The threesome of Delta, Tanganda and SeedCo drove the turnover aggregates as they claimed a combined 79.95% of the value traded. In the ETF category, the funds traded mixed in the session as three faltered while, only the Morgan & Co duo registered gains in the session. Cass Saddle and the Old Mutual ETF dropped 3.27% and 1.64% to $5.6200 and $41.0000 respectively. Datvest MCS was 0.33% lower at $8.9706. The Morgan & Co MCS and MIZ added 0.72 and 5.56% respectively to see the former close at $520.0000 and the latter at $9.5000. The Tigere REIT was 0.98% up at $346.4961 as 6,333 units exchanged hands in the session.