EFE Securities •

3 weeks ago •

Market Commentary

MARKET COMMENT 29.10.2024

Delta highlights the session…

Delta highlighted Tuesday’s session after circa 1.68m shares worth $36.25m exchanged hands in the name. The trade accounted for 50.13% of the total volumes traded and 81.55% of turnover. The other notable counter to trade was Econet that traded about 1.20m shares worth $5.93m. The trade in the telecoms giant claimed 35.99% of the volumes traded and 13.35% of the value outturn. Volumes traded jumped 183.74% to 3.36m while, turnover surged 233.09% to $44.43m. The Old Mutual ETF was the only fund to trade In the ETF category as it parred off 11.75% to $0.2559 on 16,658 units. The Tigere REIT rose 1.17% to $1.3758 on 41,680 units while, the Revitus Property was stable at $1.0400 as 2,814 units exchanged hands in the name.

Mashonaland Holdings headlined the gainers of the day as it charged 14.54% to $1.9500. Tanganda surged 13.80% to $2.6800 post the release of a cautionary statement in which the tea producer announced an intention to move to the VFEX and engage in a rights offer to raise US$7.7m. The duo of banking groups in NMB and FBC garnered 13.65% and 10.34% to end pegged at $3.7000 and $12.4083 respectively. Cigarette manufacturer BAT capped the top five gainers of the day on a 10.00% uplift that took it to $95.4028. Retailer OKZIM was the worst faller of the day as it dipped 9.61% to $0.8540. Following was ZB that dropped 5.77% to $8.0000 as ART trimmed 0.09% to $0.5520. The market closed with a positive breadth of eleven as fifteen counters gained against four that retreated. Agriculture concern Ariston retreated 0.04% to settle at $0.0800. The All Share Index advanced 2.21% to close at 290.30pts while, the Blue Chips Index rose 2.35% to 312.28pts. The ZSE Agriculture Index improved 3.21% to 214.60pts while, the Mid Cap Index added 3.01% to 249.84pts.