EFE Securities •

5 months ago •

Market Commentary

MARKET COMMENT 11.12.2023

ZSE record marginal gains in week-opener…

The market recorded marginal gains in the opening session of the week as the primary All Share Index rose 0.02% to 197,692.69pts while, the Mid Cap Index firmed up 0.14% to 872,064.68pts. The Blue-Chip Index fell 0.04% to 84,028.18pts while, the Agriculture Index eased 0.02% to 605.33pts. Clothing retailer Edgars headlined the winners of the day on a 0.71% jump to $92.6520, followed by Proplastics that leapt 0.17% to settle at $606.0000. Banking group CBZ Holdings advanced 0.12% to settle at $2,760.3822 while, fintech group Ecocash Holdings added 0.06% to $121.7156. Zimre Holdings completed the top five best performers of the day on a 0.01% lift to close at $182.1500. On the contrary, OK Zimbabwe Limited led the laggards of the day on a 2.35% drop to $195.0000 while, telecoms giant Econet declined 0.26% to $719.7093. Tea producer Tanganda retreated 0.15% to settle at $956.5253 while, beverage giant Delta tumbled 0.06% to $3,497.5724. Star Africa completed the fallers of the day on 0.02% slide to end the day pegged at $4.7976. The market closed on a positive breadth of one after six counters recorded gains against five counters that faltered.

Activity aggregates were depressed in the opening session of the week as volume traded succumbed 65.26% to 596,345 shares while, value outturn fell 50.43% to $889.15m. Delta contributed 34.07% to the total volume traded and 79.63% to turnover. The other notable volume drivers of the day were OKZim (27.83%), Star Africa (11.74%) and Tanganda (11.11%). A total of 32,392 units exchanged hands on the ETF section as Cass Saddle ETF and Datvest ETF trade flat at $7.5000 and $9.0000 respectively.  Morgan and Co MCS climbed 14.29% to $560.0000 while, the Old Mutual ETF shot up 0.15% to $34.5000. The Tigere REIT grew 6.15% to end the day pegged at $296.8000.