EFE Securities •

2 months ago •

Market Commentary

MARKET COMMENT 18.09.2024

ZSE takes a breather in midweek session…
The ZSE market recorded losses in the mid-week session as the primary All Share Index lost 0.87% to 261.28pts while, the Blue-Chip Index fell 1.72% to 284.18pts. The Agriculture Index eased 0.80% to 211.78pts while, the Mid Cap Index inched up 2.45% to 193.23pts. Seed producer SeedCo led the laggards of the day on a 4.73% drop to $5.6512, followed by beverage giant Delta that slipped 4.05% to $19.4924. Ecocash retreated 2.28% to close at $0.4134 while, Star Africa trimmed 0.39% to settle at $0.0145. Proplastics capped the worst performers of the day on a 0.02% decline to end the day pegged at $2.2905. Partially mitigating today’s losses was ZB Financial Holdings that charged 15.00% to $9.5085 while, FMP shot up 14.52% to $0.6013. Retailer OKZIM firmed up 13.82% to $1.0775 as brick maker Willdale surged 6.89% to close at $0.0428. Life assurer First Mutual completed the top five performers of the day on a 2.76% uplift to end the day pegged at $3.6992. The market closed with a positive breadth of two after ten counters recorded gains against eight that faltered.
Activity aggregates enhanced in the session as volume traded surged 26.22% to 1.47m shares while, value traded grew 42.73% to $11.71m. The top volume drivers of the day were Delta (32.19%), Proplastics (19.28%), FML (13.57%) and Star Africa (12.07%). Delta contributed a hefty 78.69% of the total value traded. A total of 297,398 units exchanged hands in the ETF category as Morgan & Co Multi sector ETF and Cass Saddle ETF traded 190,298 units and 74,900 units respectively. OMTT ETF stepped up 5.70% to end the day pegged at $0.1582. The Tigere REIT tumbled 9.16% to $1.0001 as 10.56m units exchanged hands in the session while, the Revitus REIT eased 0.05% to end the day pegged at $0.8525.