EFE Securities •
6 months ago •
Market Commentary
MARKET COMMENT 27.12.2023
Post-holiday trading sees the ZSE extend gains…
The market extended gains post holidays, firming up 0.75% to 200,279.18pts as investors continued to clear remaining balances in their accounts. The Blue-Chip Index was 0.83% firmer at 84,410.99pts while, the Agriculture Index was 0.73% up at 627.38%. The Mid-Cap Index added 0.60% to 898,295.26pts. Headlining the gainers list of the day was National Tyre Services that garnered 100% to settle at $49.4000 only to be restricted by the circuit breakers. Property concern First Mutual put on 14.99% to end pegged at a VWAP of $321.9839 while, sugar processor Star Africa was 14.31% higher at $6.1000. Retailer OkZim notched up 5.41% to close pegged at a VWAP $200.2941 while, seed technology group SeedCo Limited fastened the gainers list of the day on 5.00% surge to $1,013.2500. Partially weighing down the market was Willdale that retreated 4.61% to $41.4415 while, fintech giant Ecocash eased 3.78% to close trading at $153.9575. Meikles closed the day trading at $1,200.0082 following a 0.82% descent while, property concern Mashonaland Holdings was 0.35% weaker at $141.0100. Construction giant Masimba Holdings lost a negligible 0.0001% to settle at $809.9971 as it capped the laggards list of the day. Market activity was mainly tilted in the positive territory as twelve counters advanced against five that faltered, to close the day with a positive breadth of seven.
Activity aggregates traded mixed in the sessions as volume of shares traded surged 56.54% to 2.70m shares while, turnover declined 49.93% to see $1.93bn exchange hands. Delta and Dairibord were the most sought after stocks in the session as they claimed a combined 67.52% of the volume and 89.26% of the value traded. In the ETF category only three funds registered price movements with all of them closing pointing northwards. The Old Mutual Top 10 ETF gained 1.14% to $41.3163 while, the Datvest MCS was 0.61% higher at $8.3880. Cass Saddle ETF was 0.57% firmer at $5.6200. A total of 233,000 units worth $2.01m exchanged hands in the section. The Tigere REIT was 5.81% higher at $341.3088 as 1.88m units worth $641.44m exchange hands.