EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT -2024-04-23

The market rebounded in Tuesday’s session to see the mainstream All Share Index adding 0.14% to 96.47pts while, the ZSE Top Ten Index rose on 0.50% to 93.88pts. Contrastingly, the ZSE Agriculture and the Mid Cap Indices retreated 1.12% and 0.21% apiece. Star Africa led the market surge after a 77.65% uplift to $0.0036. Trailing was Proplastics that jumped 9.63% to $0.5674 while, packaging group Nampak advanced 5.64% to $0.5052. Brick manufacturers Willdale overturned yesterday’s losses as it recorded a 1.90% uplift to $0.0501. Delta capped the top five winners of the day on a 1.52% rise that took it to $6.4918. SeedCo was the worst faller of the day on a 10.02% decline to $1.5742 as OKZIM followed on a 5.80% dip to $0.5523. Agriculture concern Ariston shed 2.00% to $0.0490 while, Ecocash trimmed 1.69% to $0.2998. Meikles completed the top five shakers of the day on a 1.45% loss to $2.4337.

Activity aggregates were mixed in the session as volumes dropped 64.60% to 1.08m shares while, turnover enhanced 10.22% to $1.27m. Volume leaders of the day were Star Africa, Econet, Proplastics, Delta and OKZIM that claimed a shared 88.54%. Delta and Econet anchored the value aggregate on respective contributions of 55.73% and 23.66%. On the ETF front, the Old Mutual ETF was the only counter to register a trade after tripping 2.46% to $0.1067 on 1,480 units. The Tigere REIT slid a further 2.86% to close at $0.5421 on 3,175 units worth $1,721.26.