EFE Securities •

2 weeks ago •

Market Commentary

MARKET COMMENT -2024-04-17

The ZSE retreated further ahead of the Independence holiday tomorrow as three of the indices that we review closed pointing southwards. The All-Share Index succumbed 1.51% to 96.95pts while, the ZSE Top Ten Index trimmed 2.74% to 94.08pts. The ZSE Agriculture Index slipped a meagre 0.06% to 100.82pts while, the Mid Cap Index edged up 1.08% to 103.79pts. Trading in the negative territory was Ecocash and Econet that dropped a similar 0.12% to close at respective prices of $0.2997 and $1.5263. Zimre holdings went down 0.08% to $0.2400 as brick makers Willdale fell 0.03% to $0.0438. Turnall lost a further 0.02% to trade at $0.0270 as it completed the top five losers of the day.

Star Africa climbed 0.34% to $0.0040 reversing prior session’s losses. Packaging company Nampak put on 0.13% to $0.4900 as retailer OKZIM improved 0.11% to $0.5838. Property concern FMP added 0.06% to $0.2774 while, Meikles held the fifth position of the gainers’ table after a 0.01% rise to $2.9025. Volumes ballooned 495.94% to 1.06m as Econet, Star Africa and Delta claimed a combined 92.49% of the total. Turnover surged 2,482.94% to $2.09m as Delta and Econet accounted for 54.97% and 39.59% of the aggregate apiece. The Old Mutual ETF was the only ETF to record a trade on the bourse as it shed 2.94% to $0.1013 on 6,400 units worth $648.0000.  The Tigere REIT ticked up 3.04% to end at $0.5695 while, the Revitus property was stable at $0.2200.