EFE Securities •

7 months ago •

Market Commentary

MARKET COMMENT 28.03.2024

The ZSE ended the first quarter of the year in gains as all the four indices that we review closed in the black. The ZSE All Share Index advanced 3.43% to 873,263.38pts while, the ZSE Top Ten Index charged 3.69% to 398,030.12pts. The Agriculture Index rose 8.45% to 2183.25pts while, the Mid Cap Index added 2.20% to end at 3,176,588.02pts. Hippo Valley headlined the gainers of the day on a 15.00% uplift to $7,590.0000 as TSL surged a similar 15.00% to settle at $2,645.0000. NMB jumped 15.00% to $3,427.0500 as SeedCo Limited was 14.89% firmer at $3,439.0496. Life assurer Fidelity improved 14.89% to $945.0000. Financial services group ZB dipped 15.00% to close at $5,525.0000 as Star Africa let go 11.78% to $14.9029. Telecoms giant Econet trimmed 0.42% to $4,670.1901 while, Proplastics shed 0.02% to set at $1,293.7530. The market closed with a positive breadth of sixteen after twenty-one counters registered gains against five that faltered.

Activity aggregates enhanced in the month-ending session as volumes grew 16.98% to 2.21m shares while, turnover ballooned 68.23% to $5.96bn. Volume drivers of the day were Mashonaland, Star Africa, Econet and Ecocash with a combined contribution of 73.30% to the aggregate. Delta, Econet and Cafca accounted for 35.39%, 26.46% and 20.96% of the value aggregate respectively. The Datvest asset jumped 14.99% to $33.5400 while, the Morgan and Co MIZ advanced 14.78% to $20.0000. The Morgan and Co MCS put on 14.71% to ended at $165.0024. The Tigere REIT inched up 5.70% to end pegged at $969.2399 while, the Revitus Property fund declined 0.17% to $559.0000.