EFE Securities •
3 months ago •
Market Commentary
MARKET COMMENT -2024-03-18
Bullish sentiment prevails in Monday’s session as demand continues to firm up ...
The bullish sentiment prevailed in Monday’s trades as demand in selected counters continued to skyrocket. A total of twenty counters registered trades in the session segregated into fifteen gainers, five that sailed stable and a nil position of losers. The All-Share Index garnered 7.43% to end at 667,849.02pts while, the Blue-Chip Index edged up 8.64% to settle at 307,868.65pts. The Agriculture Index added 3.79% to end at 1,373.93pts while, the Mid-Cap went up 2.21% to close at 2,419,502.76pts. Leading the gainers of the day was BridgeFort Capital Class A that garnered 21.43% to close at $85.0000 as scrappy 201 shares traded. Dairy processor Dairibord inched up 15.00% to $1,265.0000 while, bankers ZB followed as they rose by a similar 15.00% to end at $1,265.0000. Cable manufacturer CAFCA also edged up 15.00% to close trading at a VWAP of 15,525.0000 while, beverages producer Delta closed at a VWAP of $13,353.0399 as 74,900 shares traded in the name despite, closing heavily bid.
Activity aggregates enhanced in the session as volumes traded jumped 80.14% to 2.10m shares while, turnover increased by 87.91% to see $6.41bn exchange hands. Activity was mainly confined in Delta that claimed 66.27% of the volume and 63.79% of the turnover. The other notable volume driver was Seedco limited that contributed 11.54% of the total. In the turnover category, Delta was the other notable value driver as it claimed 14.38% of the total. In the ETF category, only three funds registered price movement in the session as they all closed pointing northwards. The Old Mutual Top 10 ETF garnered 9.26% to close at $115.0000 while, the Datvest MCS advanced 1.82% to $20.3636 as it only traded 550 shares in the session. The Morgan & CO Made In Zimbabwe was 1.30% higher at $19. 5000. In the REIT category, the Tigere REIT climbed 0.98% to $760.1871 while, Revitus Property Opportunities scaled up 1.83% to $551.9286.