EFE Securities •

3 months ago •

Market Commentary

MARKET COMMENT -2024-01-29

ZSE opens week in the black…

The market opened the last week of January in the black as the primary all share Index jumped by a further 6.37% to 457,309.93pts while, the Blue-Chip Index grew 5.90% to 204,417.63pts. The Agriculture Index gained 10.51% to reach an all-time high of 1,268.99pts while, the Mid Cap Index added 7.23% to 1,615,987.52pts. Banking group ZBFH, BAT, NMB and milk processor Dairibord recorded a similar 15.00% leap to end the day pegged at $1,368.5000, $35,399.4500, $1,290.8000 and $1,551.4500 respectively. Fintech group Ecocash Holdings likewise surged 15% to settle at $448.4500, closing firmly bid at that level.   In contrast, Riozim led the laggards of the day on a 12.78% slid to $900.0000 followed by Zimre Holdings Limited that dropped 0.17% to settle at $171.7230. Tea producer Tanganda capped the fallers of the day on a 0.01% retreat to end the day pegged at $2,542.9443. Twenty-five counters registered gains against three that faltered to register a market breadth of twenty-two. 

Activity aggregates were depressed in the session as volumes traded declined 18.80% to 2.73m shares while, turnover declined 9.98% to $3.35bn. OKZIM, Star Africa and FBC dominated the volume traded after contributing a combined 56.42% of the total volume traded. Other top volume drivers of the day were Nampak (10.54%) and Ecocash Holdings. Top value drivers were Delta (50.64%), FBC (17.33%) and Econet (7.87%). All the ETF’S were active in the session to see Cass Saddle ETF adding 6.63% to $7.7520 while, Datvest ETF inched up 7.35% to close at $15.5667. Morgan & Co Multi Sector ETF and OMTT ETF climbed 1.05% and 3.78% to close at $505.2545 and $77.8356 respectively.  Tigere REIT firmed up 2.40% to $513.0000 after 71,492 units exchanged hands while, Revitus REIT exchanged 7,200 units at a stable price of $520.0000 in the week opening session.