EFE Securities •

8 months ago •

Market Commentary

ZSE maintain gains…

The market maintained prior session gains as the primary All Share Index rose 2.22% to 125,683.40pts while, the Mid Cap Index climbed 0.56% to 455,104.50pts. The Blue-Chip Index edged up 3.16% to 58,655.31pts while, the Agriculture Index declined 0.23% to 591.89pts. Construction group Masimba Holdings headlined the positive movers of the day after a 15.00% jump to settle at $517.9000, followed by CBZ holdings that ticked up 14.99% to $737.7500. Meikles inched up 6.31% to $750.0214 while, beverages giant Delta closed at $2,301.6874 following a 4.36% ascent on firming demand. Milk processors Dairibord, capped the top five risers of the day on a 3.59% lift to $699.9500. In contrast, retailers Edgars led the laggards of the day on a 4.35% slide to $110.0000, trailed by seed producers Seed Co that fell 4.12% to $1,000.00. Life Insurer First Mutual Holdings eased 3.06% to $190.0000 as fintech group Ecocash Holdings slipped 1.14% to $138.3902. Tea producers Tanganda completed the top five fallers of the day on a 0.98% slump to end the day pegged at $990.2048. The market closed with a positive breadth of two as ten counters recorded gains against eight counters that lost their grip.

Activity aggregates were depressed in the session as volumes dipped 99.55% to 1.04m shares while, turnover succumbed 98.33% to $785.74m. The top volume drivers of the day were OK (32.50%), Econet (16.08%), Delta (15.68%) and Dairibord (13.71%). The trio of Delta, Dairibord and Econet contributed a combined 71.04% to the value outturn. The Morgan and Co MCS surged 15% to $185.0300 on a scrappy 50 units. The Cass Saddle ETF was stable at $7.2500 as 1,000 units traded.