EFE Securities •

1 week ago •

Market Commentary

MARKET COMMENT 30.05.2024

Econet gleams in month-ending session… 
Econet highlighted the market in month-ending session as 97,644,338 shares exchanged hands at negotiated price of $2.4800 bringing the total shares traded in the session to $97,688,999 shares. The trade represented 98.87% of the total shares exchanged hands and 94.48% of the value outturn. Mashonaland Holdings led the winners of the day on a 7.27% surge to $1.3087. Proplastics followed on a 6.16% jump to $1.2740 as Tanganda advanced 5.93% to $1.0000. SeedCo Limited improved 1.54% to $2.9546 while, Econet completed the top performers of the day on a 1.02% uplift to $2.9745. Trading in the negative territory was OK Zimbabwe that 
dropped 13.84% to $0.3093 while, Zimre Holdings Limited shed 7.89% to $0.3500. Agriculture concern Ariston retreated 4.18% to $0.0481 as Ecocash trimmed 2.10% to $0.1375. Banking group CBZ held the fifth position on the fallers’ table after a 1.80% loss to settle at $7.0000.  
 
Volumes traded soared 1,304.57% to 98.81m while, turnover ballooned 1,680.48% to $256.45m. The market registered a positive breadth of two as eight counters gained against six which faltered. The Morgan and Co Made In Zimbabwe was stable at $0.0500 as 424,522 units traded in the ETF category. The Tigere REIT was 1.68% higher at $1.2200 on 38,438 units. The All-Share Index rose 0.12% to 196.85pts while, the ZSE Top 
Ten Index edged up 0.30% to 189.81pts. The ZSE Agriculture Index added 0.29% to 189.42pts while, the Mid Cap Index was the sole loser amongst the indices we review after losing 0.41% to close at 246.15pts.