EFE Securities •

8 months ago •

Market Commentary

ZSE extend losses in Thursday’s trades…

The ZSE continued to falter in the penultimate session of the week as demand began to wane in selected counters across the board. The All-Share Index lost ground for the second consecutive session as it parred off 0.18% to 144,089.45pts while, the Blue-Chip Index eased 1.21% to 70,070.23pts. The Agriculture Index lost 2.18% to close pegged at 566.40pts while, on the contrary the Mid Cap Index gained 2.09% to settle at 483,020.29pts. Sugar processor Hippo led the laggards of the day as it plummeted 9.68% to close at $1,806.4125, trailed by milk processor Dairibord that plunged 5.45% to settle at $530.0000. Turnall closed the day pegged at $17.0000 following a 5.33% descent while, beverages giant Delta succumbed 5.32% to close at a vwap of $2,951.5253. Retailer OK Zimbabwe plunged 3.56% to close at $140.2986 as it capped the top five worst performers of the day.

Partially mitigating today’s losses was Willdale that garnered 15.00% to settle at $8.0500, trailed by banking group CBZ that advanced 14.14% to close the day trading at $1,207.4227, albeit closing with no bids. Property concern Zimre Holdings Limited surged 13.86% to close at $85.7500 as the digital media group Zimpapers notched up 12.23% to $12.0000. Telecoms giant Econet fastened the top five gainers’ list after jumping 11.57% to $591.2958. Volumes traded declined 37.29% to see 4.32m shares exchange hands, with activity mainly confined to OKZIM (34.49. Turnover surged 22.23% to $3.87bn as CBZ, Delta, Tanganda, Hippo and BAT claimed a shared 76.92% of the outturn. The ETF’s Index was up in the session as it jumped 7.67% to close at 2392.71pts. The Old Mutual Top Ten Index edged up 13.59% to $25.0000 while, the Morgan & Co Multi sector ETF and Morgan & Co Made in Zim inched up 13.50% and 1.23% apiece. The Tigere REIT was 0.27% weaker to close at a vwap $222.3927 as 5,399 units exchanged hands.