EFE Securities •
3 months ago •
Market Commentary
MARKET COMMENT -2024-02-15
Dairibord anchors activity aggregates…
Dairy producer Dairibord anchored today’s activity aggregates as it contributed 84.40% of the volume and 82.57% of the turnover traded. This saw 6.43m shares worth circa $7.10bn exchange hands, representing 1.80% of the total company’s market capitalisation. The other notable volume contributor was Edgars that contributed 9.68% of the total. Activity aggregates were mixed in the session as volumes traded declined by 68.30% to see 7.93m shares trade while, value traded increased by 19.39% to $8.79bn. In the ETF category, a total of four funds traded mixed in the session. The Datvest MCS added 0.87% to settle at 19.5400 while, Morgan & Co MSE put on 0.01% to settle at $600.0000. Cass Saddle ETF was 2.34% lower at $8.3008 as 1m units traded while, the Old Mutual ETF was 0.42% weaker at $79.9500.
Dairy processor Dairibord headlined the laggards of the day as it plummeted 15.00% to end pegged at $1,105.0000 while, retailer OK Zimbabwe closed at $650.2796 following a 14.99% decline. Meikes continued with its negative performance as it dropped 11.90% to settle at $3,190.2561 while, Ecocash parred off 7.22% to close trading at $590.2785, where demand could be found. Rubber and industrial belts manufacturer General Beltings retreated 4.42% to $139.0000 as it capped the top fie worst performers list of the day. Apparel retailer Truworths was the major gainer of the day as it inched up 7.14% to close at $75.0000 while, Ariston gained 0.12% to close at $92.0000. Mashonaland Holdings Limited eked out narrow gains of 0.01% to close at $220.4000 while, Edgars was 0.0015% up at $437.0564 as it fastened the gainers list of the day.
The All-Share Index slipped 1.65% to settle at 516,231.00pts as supply in selected counters continued to outstrip demand while, the Blue-Chip Index faltered 1.09% to close at 227,819.83pts. The Agriculture Index eased 1.35% to close at 1,505.55pts while, the Mid-Cap Index shed 2.65% and closed at 2,163,951.85pts.