EFE Securities •

2 months ago •

Market Commentary

MARKET COMMENT 06.09.2024

Gains in selected heavies lift the market…
Gains in selected heavies lifted the market in Friday’s session as the All-Share Index put on 1.87% to 200.54pts. The ZSE Top Ten Index rose 3.69% to close at 209.29pts. On the contrary, the ZSE Agriculture Index and the Mid Cap Index slipped 1.79% and 2.55% to close at 177.14pts and 166.29pts respectively. Leading the winners of the day was fintech group Ecocash that surged 13.66% to $0.7667. Star Africa charged 7.50% to $0.0110 while, Econet Wireless added 4.86% to $3.7334, having traded an intra-day high of $4.0900. Tea company Tanganda was 3.12% firmer at $3.6091. RTG capped the top five risers of the day on a 1.52% uplift to $0.4568.
Proplastics was the top decliner of the day on a 14.99% dip to $1.9785, trailed by banking group NMB which shed a similar 14.99% to $2.2975. Milk processor Dairibord retreated 1.78% to end at $2.7011 as construction group Masimba trimmed 0.88% to $2.3000. ZB Financial Holdings completed the top five laggards of the day on a 0.31% loss to $6.3500.