EFE Securities •
5 months ago •
Market Commentary
MARKET COMMENT 30.01.2024
Market closes 7.34% higher on firming demand across the board…
The market closed 7.34% higher at 219,318.73pts in the penultimate session of the month, anchored by firming demand witnessed across the board. The Blue-Chip Index advanced 7.29% to close at 219,318.73pts while, the Mid Cap Index was 7.15% firmer at 1,731,544.56pts. The Agriculture Index was the major gainer amongst its kind as it gained 8.59% to 1,378.03pts. Tyre producer National Tyre Services headlined the gainers list of the day as it garnered 100% to close at circuit breaker limit of $140.0000 while, General Beltings charged 93.71% to end pegged at $70.0000. Bridgefort Capital Class A that is trading under cautionary inched up 17.65% to $20.0000 while, transport and logistics group Unifreight closed at $293.2500 following a 15.00% ascent. Cigarette producer BAT fastened the top five gainers list of the day on a 15% jump to $40,709.3000. Partially weighing down the market was sugar processor Star Africa that retreated 1.75% to settle at a VWAP of $8.9104 while, Proplastics lost a negligible 0.03% to end pegged at $1,494.4420.
Activity aggregates continued to falter in the session as volumes traded declined by 5.87% to see 2.09m shares worth $3.03bn exchanged hands in the session. Agriculture concern Ariston led the volume drivers of the day as it contributed 39.95% of the total. Other notable volume drivers of the day were Econet and Ecocash with respective contributions of 13.96% and 11.19%. In the turnover, category the threesome of Delta, Econet and Meikles drove the values as they claimed a combined aggregate of 70.72% of the total. It was a busy day in the ETF category as all the five listed funds registered price movements. Cass Saddle and Datvest dropped 9.21% and 0.21% to settle at $7.0378 and $15.5347 respectively. The Old Mutual Top 10 ETF added 2.65% to $79.8963 while, Morgan & Co MS ETF was 1.22% stronger at $511.4000 on the back of a 0.0437US cents dividend declared. In the REIT category, Tigere was the only active fund as it advanced 6.97% to $548.7777.