EFE Securities •

4 months ago •

Market Commentary

MARKET COMMENT -2024-03-04

ZSE retreats in week opening session…

The ZSE market retreated 0.27% in week opening session to 521,101.97pts as all the four indices under our review closed in the red. The Blue-chip index lost 0.36% to 232,468.22pts while, the Agriculture index closed 0.94% lower at 1,414.04pts. The Mid-Cap index fell by 0.03% to 2,116,438.08pts. Milk processor Dairibord Holdings Limited led the laggards of the day on a 9.55% slid to $950.2894 while, Ariston trailed on a 4.50% loss to $67.5306. Proplastics and FBC holdings declined a similar 2.78% to close at $1,300.3049 and $2,800.0000 respectively. First Mutual Properties capped the top five worst performers of the day on a 1.69% drop to end the day pegged at $580.0000. Zimbabwe Newspaper Limited headlined the top performers of the day on a 66.67% jump to $100.0000. ART surged 14.21% to $217.000 followed by Rainbow Tourism group that added 3.36% to $380.0000. Meikles Limited charged 1.34% to end the day pegged at $2,455.0000. Nampak completed the winners of the day on a 1.02% uplift to $495.0000.   The market closed with a negative breadth of five after ten counters recorded gains against fifteen that faltered.

Activity aggregates enhanced in the session as volume traded increased by 90.37% to 1,830,200 shares while, value traded ballooned 65.11%  to $2.8b. The top volume drivers of the day were OK (26.45%), Star Africa (15.46%) and Econet (12.65%). The trio of Delta, Econet and OK Zim dominated the turnover category as they claimed a combined 64.33% of the total. Datvest ETF advanced 0.32% to $19.5114 while, MIZ ETF soared 10.53% to settle at $21.0000. Cass Saddle  ETF and OMTT ETF eased 0.12% and 1.55% to close at $7.5808 and $90.0068 respectively. A total of 387,800 units exchanged hands on the REIT section.  Tigere REIT shot up 18.95% to settle at $628.9510 while, Revitus REIT slipped 1.41% to close at $552.1053.