EFE Securities •

8 months ago •

Market Commentary

MARKET COMMENT -2024-03-11

ZSE closed in the black in week opener...

The ZSE market buttressed prior session gains as the primary All Share Index rose 2.73% to 520,465.26pts in the week opener while, the Blue-Chip Index firmed up 2.56% to 230,117.56pts. The Agriculture Index lost 3.03% to 1,246.75pts while, the Mid Cap Index gained 2.61% to 2,170,529.69pts. Turnall headlined the top performers of the day on a 55.30% jump to $65.0000 followed by CAFCA that added 15.00% to $11,638.0000. Logistics group Unifreight surged 14.82% to close at $488.0000 while, hotelier Meikles shot up 14.39% to $3,500.2843. Zimre Holdings capped the winners of the day on a 10.58% hop to end the day pegged at $293.1429. Hippo Valley led the laggards of the day on a 14.99% drop to $3,973.9804 while, Edgars retreated 11.17% to settle at $350.0000. ART eased 3.23% to $210.0000 as Nampak shed 1.71% to $460.8046. Fintech group Ecocash Holdings completed the top five  fallers list of the day on a 0.01% slid to end the day pegged at $587.9012. The market closed on a positive breadth of nine as fifteen counters recorded gains against six that faltered in the session.

Activity aggregates enhanced in the session as volume traded soared 174.88% to 5,03m shares while, value traded grew 479.45% to $16.1bn. The top volume drivers of the day were Econet (70.65%), Delta (21.20%) and OK (4.32%). The trio of Delta, Econet and OK contributed a combined 97.77% to the total value traded. On the ETF section, Datvest inched up 0.46% to close at $19.9485 after 533,890 units exchanged hands in the session. OMTT ETF went up 14.47% to end the day pegged at $89.9976. A total of 991,668 units exchanged hands on the REIT section. Tigere REIT added 0.21% to close at $650.3378.