EFE Securities •

6 months ago •

Market Commentary

MARKET COMMENT 04.01.2024

The market extended the bullish trend in Thursday’s session to see the primary All Share Index ticking up 7.70% to 240,181.46pts while, the Blue-Chip Index firmed up 9.97% to 106,064.36pts. The Agriculture Index rose 2.33% to 652.43pts while, the Mid Cap Index gained 1.65% to 959,257.12pts. Star Africa headlined the top performers of the day on a 23.63% jump to $9.9089, followed by beverage giant Delta that added 14.96% to $4,468.4007, having reached an intra-high of $4,470.1000. Banking group CBZ Holdings surged 13.82% to close at $3,700.0000 while, fintech group Ecocash Holdings advanced 11.13% to $224.6617. Meikles capped the winners of the day on a 10.88% uplift to end the day pegged at $1,637.9797. On the contrary, Nampak led the laggards of the day on a 1.69% slid to $290.0000 while, Mash Holdings eased 0.03% to close at $160.0500. The market closed with a positive breadth of fourteen after sixteen counters recorded gains against two that faltered.

Activity aggregates were depressed in the session as volume traded succumbed 67.03% to 678,707 shares while, value traded declined 75.24% to $354.83m. Ecocash was the top volume driver after contributing 28.61% of the total volume traded. Other notable volume drivers of the day were Star Africa (22.44%), GBH (11.13%) and OkZim (9.27%). The top value drivers of the day were Delta (60.95%), Ecocash (11.83%), Econet (6.09%) and Hippo (4.85%). A total of 72,498 units exchanged hands in the ETF section. Cass Saddle ETF inched up 4.54% to settle at $6.2163 as Datvest ETF charged 10.00% to end the day pegged at $11.0000. OMTT ETF gained 5.87% to close at $42.9836. Tigere REIT edged up 3.10% to end the session pegged at $350.0000 as 89,907 units exchanged hands.