EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT -2024-03-26

ZSE maintains a positive impetus...

The ZSE market maintained a positive momentum in the second session of the week as the primary All-Share Index firmed up 1.84% to 795,094.49pts while, the Blue-Chip Index rose 1.45% to 359,420.82pts. The Agriculture Index went up 6.27% to 1,899.64pts while, the Mid Cap Index grew 1.96% to 3,044,412,732.57pts. The duo of BAT and ZBFH headlined the top performers of the day on a similar 15% surge to close at $56,166.0000 and $7,035.7000 respectively. Apparel retailer Edgars advanced 14.47% to $465.0000 while, NMB shot up 13.63% to settle at $2,980.0500. Hippo capped the winners of the day on a 10.00% uplift to end the day pegged at $6,600.0000. On the losing side was General Beltings that lost 4.38% to close at $131.0000 followed by retailer OK Zimbabwe that dropped 2.01% to $1,153.0981. Banking group CBZ Holdings slipped 0.11% to $9,999.9990 as fintech group Ecocash Holdings declined 0.02% to $606.0543. Zimre Holdings Limited fastened the laggards of the day on a negligible 0.004% retreat to end the day pegged at $299.9962. Sixteen counters registered gains while, six counters faltered to leave the market with a positive breadth of ten.

Activity aggregates declined in the session as volumes traded succumbed 30.29% to see 1.07m shares exchanging hands while, value traded fell 58.44% to circa $2bn. The trio of Starafrica, Seedco and TSL topped the volume aggregates for the day after claiming a combined contribution of 68.14%. Top value drivers of the day were Seedco (38.29%), Delta (29.15%) and Econet (10.42%). In the ETF section, Datvest climbed up 1.10% to $28.3086 while, OMTT ETF inched up 0.29% to close at $143.8405. A total of 4,079,816 units exchanged hands in the Tigere REIT that dropped 2.03% to end the day pegged at $855.2495.