EFE Securities •
9 months ago •
Market Commentary
MARKET COMMENT -2024-02-02
ZSE closes 2.13% higher in the week ending session…
The market stretched its winning streak in the week ending session as the primary All Share Index rose 2.13% to 584,266.23pts while, the Blue-Chip Index firmed up 1.23% to 261,619.92pts. The Agriculture Index grew 2.90% to 1,654.14pts as the Mid Cap Index added 4.67% to 2,043,762.44pts. General Beltings headlined the top performers of the day on 87.50% jump to $150.0000 followed by Turnall that climbed 67.86% to $94.0000. Banking groups CBZ Holdings, NMB and retailer OKZim surged a similar 15.00% to end the week pegged at $9,200.0000, $1,963.1000, and $628.7000 respectively. In contrast, beverage giant Delta led the laggards of the day on a 11.16% slid to $10,008.8280 as profit-taking begins to set in, followed by hotelier Meikles that slipped 8.67% to $6,750.0000. Star Africa declined 7.50% to $8.2673 while, Ariston eased 1.21% to close at $92.7181. Milk processor Dairibord capped the fallers of the day on a 0.93% drop to end the day pegged at $1,765.1364. The market closed on a positive breadth of twelve after twenty counter recorded gains against eight that faltered.
Activity aggregates were mixed in the session as volume traded grew 8.57% to 6.02m shares while, value traded fell 64.84% to $10.06b. The top volume drivers of the day were Star Africa (33.94%), Ecocash Holdings (23.20%), Delta (19.99%) and Econet (10.33%). Delta dominated the value traded for the day after contributing 77.31% to the total value traded. The trio of Econet, Ecocash and SeedCo contributed a combined 19.44% to the total value traded. A total of 162,273 units exchanged hands on the ETF section. Datvest ETF retreated 9.00% to settle at $14.0000 while, MIZ ETF advanced 14.98% to close at $12.5900. OMTT ETF went up 2.17% to end the week pegged at $97.4051. Tigere was the only active REIT in the weekending session which saw 2,747,611 units exchange hands. Tigere REIT dropped 0.04% to end the day pegged at $592.7118.