ZSE Market Commentary 26 February 2024
ZSE rebounds in Monday’s trades…
The market rebounded in Monday’s session as it eked out narrow gains of 0.11% to end pegged at 496,818.79pts while, the Blue-Chip added 0.05% to settle at 218,347.44pts. On the contrary, the Agriculture Index dropped 3.17% to close at 1,399.25pts while, the Mid Cap Index faltered 0.99% to end pegged at 2,105,266.06pts. Headlining the best performer of the day was apparel retailer Truworths that charged 20.00% to $90.0000 while, Meikles notched up 11.84% to close trading at $2,742.3462. Conglomerate ART notched up 11.05% to end at $190.0000 while, tea producer Ariston was 8.30% higher at $65.6000. Sugar refiners Star Africa closed at a VWAP of $7.3299% following a 2.79% ascent. TSL led the laggards of the day as it plummeted 15.00% to end at $2,294.9500 while, General Beltings trailed on a 8.33% retreat to $110.0000. Roofing manufacturer Turnall shed 5.37% to $65.0000 as 7,200 shares exchanged hands in the session while, Apparel Retailer Edgars that is trading under cautionary pending further announcement about its anticipated movement to the VFEX, parred off 4.89% to $380.0000. Dairibord plunged 3.76% to end at $975.0000 as it capped the top five worst performers of the day. The market recorded a negative breadth of six as eight counters gained against fourteen that faltered.
Activity aggregates enhanced in the session as volumes traded jumped 198.65% to see 6.51m shares worth $5.67bn exchange hands in the session. This represented an 86.73% increase in turnover. The threesome of Econet, Ecocash and OK Zimbabwe drove the volume aggregates of the day as they contributed a combined 80.87% of the total. In the turnover category, trading was mainly confined in Econet and Delta which claimed 51.51% and 33.80% of the turnover traded in the session respectively. In the ETF category, a total of three funds recorded negative price movements. Datvest MCS, Morga & Co Made in Zim and Old Mutual Top 10 lost 2.37%, 0.56% and 0.04% in that order. The Tigere REIT was 0.27% weaker at $609.3622 as 4.84m units exchanged hands.-efesecurities