EFE Securities •
10 months ago •
Market Commentary
MARKET COMMENT 28.12.2023
The ZSE continued to advance in the penultimate session of the year as the primary All Share Index advanced 1.38% to 203,036.28pts. The Blue-Chip Index surged 1.34% to 85,544.17pts anchored by gains in Ecocash, Econet, Meikles and Delta while, the Mid Cap Index was up 1.44% to close pegged at 911,193.42pts. On the contrary the Agriculture Index faltered 0.69% to close at 623.06pts. Sugar processor Star Africa headlined the top gainers of the day as it charged 14.48% to $6.9833 while, Ecocash trailed behind on a 6.86% jump to close at a VWAP of $164.5182. Telecommunications group Econet inched up 4.56% to end the day trading at $750.2575 while, Meikles added 3.91% to settle at $1,246.9701. Beverages giant Delta fastened the gainers list of the day as it went up 2.32% to close at $3,282.7691 despite having reached a high of $3,500.000 in the session. Trading in the negative territory was seed technology group SeedCo Limited that retreated 4.99% to $962.7382. Also in the laggards category were the duo of FMP and Zimre Holdings that lost negligible 0.0043% and 0.0014% respectively to see the former settle at $321.9702 and the latter at $184.4146.
Market volumes stood at 14.46m shares, up 434.89% having gotten a boost from the Ok Zimbabwe block of 5.52m shares which represented 59.72% of the volume traded. Other notable volume leaders in the session were Econet and First Mutual Properties that contributed a combined 27.7% of the aggregate. Turnover drivers of the day were Econet, Ok Zimbabwe, Delta and CBZ with respective contributions of 30.75%, 28.12% 18.34% and 13.59% apiece. Value traded jumped 196.13% to see $5.72bn exchange hands in the session. Datvest MCS and Cass Saddle ETF inched up 6.13% and 3.38% to settle at $8.9025 and $5.8100 respectively. The Old Mutual Top 10 was 0.03% up while, the Morgan & Co MS ETF gained 1.53% in the session. In the REIT category the Tigere REIT continued to be more active as 5.72m units worth $1.97bn exchange hands. The aforementioned fund was up by 1.08% to $344.9873 while, Revitus had no trades in the session.