EFE Securities •

8 months ago •

Market Commentary

ZSE retreats further in mid-month session…

The ZSE recorded losses in the mid-month session as selected heavies weighed down the market. The All-Share Index was 0.60% weaker at 143,231.12pts while, the Top 10 Index dropped 0.97% to 69,387.77pts. The ZSE Agriculture Index lost 0.75% to end at 562.15pts. The Mid Cap was the only gainer of the day amongst the indices we review after adding 0.18% to 483,899.13pts. Econet led the decliners of the day on a 9.56% retreat to $534.7779. Following was seed producer Seed Co Limited that shed 5.56% to $850.0000. Tea company Tanganda slid 2.80% to finish at $963.4615 while, Zimre Holdings Limited was 0.59% softer at $85.2426. Retailers OK Zimbabwe capped the losers of the day on a 0.18% slip to $140.0446. Partially offsetting today’s losses were General Beltings Holdings which ticked up 2.92% to $12.3500, milk processor Dairibord that stepped up 2.81% to end at $544.8790. Sugar refiner Star Africa rose 2.64% to settle at $5.9664 as Delta scaled up 0.74% to $2,973.5038. Property concern Mashonaland Holdings Limited completed the top five gainers’ set after a 0.70% rise to $154.9868. The market closed with a positive breadth of two as ten counters gained against eight losers.

Activity aggregates were depressed in the session as volumes declined 11.09% to 3.84m shares while, value outturn dipped 78.27% to $841.96m. OK Zimbabwe highlighted the activity aggregates after claiming 85.23% of the volume aggregate and 61.85% of the value outturn. Other value drivers of the day were Econet (14.51%) and Delta (10.02%) respectively. The ETF section traded a total of 315,020 units worth $2.05m. Morgan & Co MCS grew 1.25% to $212.6156 while, the Datvest ETF improved 0.52% to $5.7500. The REIT lost 0.18% to $222.0002 on 1.26m units.