EFE Securities •

6 months ago •

Market Commentary

MARKET COMMENT 20.12.2023

ZSE extend gains …

The market extended gains in midweek session as the primary All Share Index rose 1.49% to 194,835.76pts while, the Blue-Chip Index added 1.63% to 81,033.88pts. The Agriculture Index grew 1.48% to 613.15pts as the Mid Cap Index gained 1.22% to 896,041.04pts. Turnall led the gainers of the day on a 16.89% jump to $40.0000 while, CFI firmed up 15.00% to 2,185.0000. Banking group FBC Holdings climbed 14.81% to $904.6961, followed by General Beltings that edged up 5.26% to $24.0000. Star Africa capped the top five performers of the day on a 2.80% uplift to settle at $5.0000. On the contrary, Mash Holdings led the laggards of the day on a 1.05% slid to $141.5000 while, telecoms giant Econet lost 0.94% to close at $690.9470. Fintech group Ecocash Holdings eased 0.37% to $139.5071 while, Zimre Holdings Limited lost 0.10% to settle at $184.2282. Brick manufacturer Masimba Holdings completed the fallers of the day on a 0.04% drop to $809.9800. Fifteen counters recorded gains against five that faltered to leave the market with a positive breadth of ten.  

Activity aggregates enhanced in the session as volume traded soared 165.44% to 5.36m shares while, total value traded grew by 31.37% to $3.88bn. The top volume drivers of the day were Econet (23.06%), Ecocash (22.83%) and Star Africa (18.74%). The trio of Delta, Econet and FBC dominated the total value traded for the day after contributing 44.50%, 22.00% and 14.60% respectively. A total of 1,21m units exchanged hands in the ETF section. Three ETFs were active in the session which saw Cass Saddle ETF retreating 0.07% to $5.5087. Datvest ETF fell 2.56% to $8.7695 while, OMTT ETF inched up 0.13% to end the day pegged at $40.8500. On the REIT section, Revitus REIT which officially listed on Monday registered no trades on its trading debut day. Tigere REIT stepped up 0.22% to settle at $305.0000 as 7,300 units exchanged hands in the session.