EFE Securities •

5 months ago •

Market Commentary

MARKET COMMENT -2024-02-09

ZSE reverses prior session gains to end week in red…

The ZSE market reversed prior session gains to end the week in red as the primary All Share Index lost 0.66% to 565,042.99pts while, the Blue-Chip Index inched up 0.67% to 256,423.20pts. The Agriculture Index fell 1.14% while, the Mid Cap Index eased 0.59% to 2,145,807.59pts. Milk processor Dairibord and Seed producer SeedCo Limited led the laggards of the day on a similar 15.00% drop to $1,530.0000 and $2,373.80000. Zimre Holdings slipped 14.65% to $187.7667 while, hotelier Meikles trimmed 14.17% to close at $4,063.6953. Proplastics capped the fallers of the day on a 11.01% slid to $1,422.5401. Partially mitigating today’s losses was CFI Holdings that surged 14.99% to $2,606.8200 followed by apparel retailer Edgars that stepped up 14.75% to settle at $288.0000. TSL climbed 13.48% to $2,633.0931 while, First Mutual Holdings advanced 12.00% to $2,800.0000. Cafca completed the top performers of the day on a 10.98% uplift to end the day pegged at $5,000.0000. The market closed in the negative territory of nine after eighteen counters recorded losses against nine gainers.

Activity aggregates were mixed in the session as volume traded ballooned 51.97% to 4.05m shares while, value traded declined 27.89% to $4.45bn. The top volume drivers of the day were Zimre Holdings (40.90%), Ok (27.09%) and Star Africa (16.85%). The trio of Delta, Ok and SeedCo contributed a combined 77.41% to the total value traded. A total of 99,307 units exchanged hands in the ETF section. OMTT ETF trimmed 3.54% to $95.6475 while, Cass Saddle ETF edged up 8.83% to close at $8.4886. Datvest ETF and MIZ ETF gained 0.04% and 11.34% to $19.8501 and $16.0000 respectively. The Tigere REIT notched up 0.02% to end the week pegged at $604.9969 after a total of 45,952 units exchanged hands in the last session of the week.