EFE Securities •

3 months ago •

Market Commentary

MARKET COMMENT 09.08.2024

ZSE caps the day with marginal gains…
The ZSE market capped the day with marginal gains of 0.26% to 201.79pts ahead of the Heroes and Defence Forces Holidays. The Blue-Chip Index grew 0.24% to end at 208.71pts. The Agriculture Index added 0.30% to 187.75pts while, the Mid Cap Index rose 0.16% to 176.08pts. Logistics group Unifreight headlined the top performers of the day on a 14.98% jump to $1.8575 while, Nampak firmed up 4.92% to close at $1.0000. Seed producer SeedCo Limited charged 2.97% to $3.4592 while, Ariston inched up 1.77% to $0.0407. Telecoms giant Econet completed the top five winners’ pack of on a 1.58% uplift to end the day pegged at $3.3994. In contrast, Zimre Holdings led the laggards of the day on a 11.89% decline to $0.3000, followed by brick manufacturer Willdale that fell 7.73% to settle at $0.0332. Zimpapers lost 4.63% to $0.0551 while, TSL eased 0.33% to close at $3.0000. Star Africa capped the top five fallers of the day on a 0.31% retreat to end pegged at $0.0098. The market closed with a positive breadth of five after thirteen counters recorded gains against eight that faltered.
Volumes traded tumbled 28.37% to 1.41m shares while, turnover dropped 66.00% to $2.89m. The top volume drivers of the day were OKZIM (42.97%), NMB (17.52%) and SeedCo (16.79%). The trio of SeedCo, NMB, Delta and OKZIM contributed a combined 91.58% of the total value traded. A total of 200,505 units worth $5,924.93 exchanged hands in the ETF section. OMTT ETF stepped up 0.28% to settle at $0.1775 while, the Datvest ETF exchanged 191,722 units flat at $0.0300. Tigere REIT surged 5.48% to $1.0548 while, the Revitus Property Opportunities dropped 0.05% to end the day pegged at $0.6321.