EFE Securities •
6 months ago •
Market Commentary
MARKET COMMENT 09.01.2024
ZSE rises further…
The positive trajectory on the bourse continued in Tuesday’s session to see the primary All Share Index closing 0.76% higher to 257,680.91pts while, the Blue Chip Index gained 0.65% to 115,331.78pts. The Agriculture Index grew 0.33% to 677.47pts as the Mid Cap Index added 0.21% to 991,058.88pts. National Tyre Service topped the winners of the day on a 41.70% jump to $70.0000 followed by seed producer Seed Co that surged 15.00% to $1,322.5000. Nampak advanced 14.95% to close at $336.0048 while, apparel retailer Edgars notched up 14.93% to $152.0000. Brick manufacturer Willdale capped the gainers of the day on a 9.13% uplift to end the day pegged at $46.0000. On the contrary, milk processor Dairibord led the laggards of the day on a 15.00% drop to $561.9000 while, Meikles shed 7.98% to close at $1,510.0000. Star Africa declined 1.89% to $9.8000 while, beverage giant Delta eased 0.15% to $5,023.9227. Fintech group Ecocash Holdings capped the losers of the day on a 0.05% slid to end the day pegged at $215.0000. The market closed on a positive breadth of seven after twelve counters recorded gains against five that faltered in the session.
Activity aggregates were mixed in the session as volume traded succumbed 21.32% to 2.90m shares while, turnover ballooned 86.40% to $2.37b. Econet (41.42%) dominated the total volume traded for the day after claiming the largest slice of the cake. The other top volume drivers of the day were Proplastics (20.38%), Dairibord (19.22%) and OkZim (5.01%). Econet, Proplastics and Dairibord were the top value drivers of the day after a they contributed a combined 83.19% to the total outturn. 608,010 units exchanged hands on the ETFs section which saw MCMS ETF and MIZ ETF trade flat at $9.5000 and $514.9500 respectively. Cass Saddle ETF and OMTT ETF retreated 13.92% and 0.08% to $5.5605 and $43.0000 respectively. Tigere REIT edged up 5.14% to end the day pegged at $368.0000 after 9,760 units exchanged hands.