EFE Securities •
6 months ago •
Market Commentary
MARKET COMMENT 29.12.2023
ZSE caps the year 2023 in the black…
The ZSE capped the year 2023 in the black anchored by selected heavies that buttressed prior session gains. The All Share Index was up 3.84% to close at 210,833.92pts widening its YTD gains to 981.54%. The Blue-Chip Index was 5.31% firmer at 90,085.91pts as Econet, Ecocash and Delta continued to advance while, the Mid Cap Index was 1.02% higher at 920,516.25pts. The Agriculture Index recovered 0.59% to settle 626.74pts. Sugar processor Star Africa headlined the gainers list of the day as it charged 14.56% to $8.0000 while, telecommunication group Econet inched up 12.75% to $845.9528 despite reaching a high of $862.7500 in the session. Fintech company Ecocash gained 7.09% to close at $176.1794 while, Delta strengthened prior session gains as it added 6.90% to close at $3,509.3272. Retailer OK Zimbabwe was 6.18% firmer at $213.8444 as it capped the risers list of the day. Trading in the negative category were two counters, bankers NMB led the laggards of the day as it eased 0.37% to $680.0000 while, Dairibord lost a negligible 0.0009% to settle at a VWAP of $606.9943.
Activity aggregates enhanced in the session as First Mutual Properties block trade dominated today’s activity. The trade saw a circa of 39.53m shares worth $12.73bn exchange hands on the normal board while, 168.56m shares were traded on the negotiated board , this represented an estimated 16.8% of the company’s listed market capital. The counter claimed 99.20% of the volume and 97.59% of the turnover traded. In the ETF category only three funds registered trades in the session. The Datvest MCS and the Old Mutual Top 10 ETF advanced 1.10% and 0.86% respectively to see the former settle at $9.0000 and the latter at $41.6844. Morgan & Co Multi Sector ETF was 9.20% down at $516.2615 as scrappy 1,625 units exchanged hands. The Tigere REIT was still active in the session dropping 0.53% to $343.1547 as 785,271 units exchanged hands. Elsewhere, Nampak released its FY23 results in which they reported a PAT of $51.55bn while, no final dividend was declared.