EFE Securities •

4 months ago •

Market Commentary

MARKET COMMENT 15/07/2024

ZSE resumes new week in the black…

The ZSE market resumed the new week in black as the primary All Share Index gained 2.46% to close at 180.22pts while, the Blue-Chip Index rose 1.83% to 192.21pts. The Agriculture Index went up 4.61% to 152.97pts while, the Mid Cap Index added 3.46% to 146.57pts. Proplastics headlined the top performers of the day on a 15.00% jump to close at $0.8050. The duo of TSL and milk processor Dairibord surged a similar 15.00% to end at $2.2810 and $1.5220 respectively. CFI charged 14.99% to $2.1290 while, banking group ZB Financial Holdings completed the top five winners of the day on a 14.86% uplift to end the day pegged at $8.2200. On the losing side, brick manufacturer Willdale led the laggards of the day on a 5.37% decline to $0.0374, followed by tea producer Tanganda that fell 3.47% to $4.0000. Star Africa eased 3.08% to $0.0081 while, ART slipped 0.41% to settle at $0.1000. Agriculture concern Ariston trimmed 0.07% to end pegged at $0.0400. Seventeen counters recorded gains against three that faltered to leave the market with a positive breadth of fourteen.

Activity aggregates were mixed in the session as volumes traded ballooned 203.00% to 6.61m shares while, value traded succumbed 27.76% to $14.11m. Top volume drivers of the day were OKZim (54.05%), Star Africa (17.41%) and Delta (11.02%). Delta, OKZim and AFDIS contributed a combined 95.13% to the total value traded. A total of 360,165 units exchanged hands in the ETF section. Cass Saddle ETF shot up 6.09% to $0.0122 while, the Morgan and Co multi sector ETF tumbled 1.20% to end the day pegged at $0.4100. The Tigere REIT firmed up 0.99% to $0.7122 on 4,521 units.