EFE Securities •

9 months ago •

Market Commentary

MARKET COMMENT-2024-02-29

ZSE ends month in black…

The market ended the month of February in the black as the primary All Share Index gained 1.71% to 525,570.76pts while, the Blue-Chip Index added 2.05% to 235,643.91pts. The Agriculture Index put on 0.38% to 1,401.85pts while, the Mid Cap Index firmed up 0.57% to 2,092,048.38pts. Zeco Holdings topped the winners list of the day on a 13.00% jump to $0.0452 followed by fintech group Ecocash Holdings that surged 9.74% to $669.0000. Nampak stepped up 9.43% to $487.4600 while, milk processor Dairibord advanced 5.07% to settle at $1,050.6667. Retailer Okzim capped the top five performers of the day on a 3.56% uplift to end the day pegged at $600.0000. Contrastingly, Proplastics led the laggards of the day on a 3.55% slid to $1,350.0000 while, Meikles lost 1.22% to $2,422.5000. Banking group CBZ Holdings declined 0.63% to $7,900.0000 while, Star Africa retreated 0.33% to close at $8.2775. Seed producer Seed Co completed the top five fallers list of the day on a 0.01% drop to end the day pegged at $2,350.1822. Ten counters recorded gains against eight that faltered to leave the market on a positive breadth of two.

Activity aggregates enhanced in the session as volume traded ballooned 91.83% to 1.3m shares while, value traded grew 407.04% to $3.11b. The top volume drivers of the day were Econet (44.40%), Ok (16.48%) and SeedCo (15.23%). The trio of Delta, telecoms giant Econet and SeedCo contributed a combined 93.04% to the total value traded.  OMTT ETF shot up 4.89% to $91.4246 while, MIZ ETF advanced 5.26% to end the month pegged at $20.0000. Morgan and Co Multi Sector ETF and Datvest ETF inched up 0.82% and 0.30% to close at $615.0000 and $18.5556 respectively. Tigere REIT went up 2.46% to end the month pegged at $614.7992 after 31,409 units exchanged hands in the last session of the month.