EFE Securities •

3 months ago •

Market Commentary

MARKET COMMENT -2024-01-19

ZSE closes week in the black…

The market ended the week in the black as the All-Share Index rose 4.55% to 330,362.83pts while, the Blue-Chip Index added 5.32% to 150,496.30pts. The Agriculture Index grew 4.25% to 809.99pts as the Mid Cap Index firmed up 2.79% to 1,142,891.53pts. Cigarette manufacturer BAT, Tanganda and Proplastics surged a similar 15% to end the week pegged at $19,814.3500, $1,467.7500 and $963.9500 respectively. Banking group FBC also advanced a similar 15% to settle at $1,133.9500 while, insurer First Mutual Holdings capped the winners of the day on a 13.84% uplift to $1,138.3613.  On the downside was apparel retailer Truworths that led the laggards set on a 4.76% drop to $40.0000, followed by Nampak that slipped 0.62% to settle at $376.6480. Zimre Holdings Limited eased 0.02% to end the week pegged at $173.7604.

Activity aggregates declined in the session as volume traded fell 68.86% to 4m shares while, value turnover dipped 70.39% to $3.67b. Top volume drivers of the day were Ecocash (28.04%), OkZim (19.21%), Econet (16.04%) and Mash Holdings (7.40%). Delta and Econet emerged as value drivers of the day after contributing (36.70%) and (29.62%) respectively. Other notable value drivers were CBZ (6.50%), Ecocash Holdings (6.46%) and OkZim (5.02%). A total of 214,329 units exchanged hands in the ETF section which saw Cass Saddle ETF and MIZ ETF trading flat at $6.3300 and $9.5000 respectively. Datvest ETF slipped 6.07% to close at $12.0000 while, OMTT ETF declined 0.04% to settle at $49.9780. Both REITS were active in the session as a total of 386,399 units exchanging hands. Revitus REIT lost 5.45% to $520.0000 while, Tigere REIT inched up 1.03% to end the week pegged at $417.4604.