EFE Securities •

2 weeks ago •

Market Commentary

MARKET COMMENT -2024-04-19

The ZSE market continued to falter in the week-ending session as the mainstream All Share Index shed 0.98% to 95.99pts while, the ZSE Top Ten Index tumbled 1.16% to 92.99pts. The Mid-Cap Index slid 0.55% to 100.26pts while, the Agriculture Index let go 1.42% to 102.32pts. Leading the market charge was brick manufacturer Willdale that surged 14.55% to close at $0.0502. Trailing was Zimre Holdings that garnered 7.91% to $0.2590 as Ecocash put on 0.46% to $0.3010. Beverages giant Delta added 0.41% to $6.2954 while, Econet grew 0.22% to $1.5296. Fallers of the day were topped by Meikles that dropped 14.97% to $2.4679, followed by agriculture concern Ariston that trimmed 10.97% to $0.0500. Retailer OKZIM slipped 10.93% to settle at $0.5200 while, banking group CBZ retreated 8.10% to trade at $3.6300. Tea company Tanganda completed the decliners of the day on a 2.42% to close at $2.0195.

Volume of shares traded dropped 79.95% to 211,700 shares yielding a turnover of $464,746.53 which was a 77.77% dip. Driving today’s volumes were Delta, Ariston, Zimre Holdings, Ecocash and Econet that claimed a combined 82.43%. Turnover was anchored by Delta which accounted for a huge chunk of 84.12% of the outturn. The Cass Saddle was the top gainer amongst the indices as it shored up 9.70% to $0.0500 while, Old Mutual ETF trailed on a 7.77% uplift to $0.1091. The Datvest ETF trimmed 6.99% to $0.0214 on 13,721 units. The Tigere REIT ticked up 0.09% to end at $0.5700 on 1,426 units.