ZSE Market Commentary 06 Mach 2024
ZSE retreats further…
The ZSE market continued to wane in the mid-week session to see the All share Index retreating 2.05% and closed at 508,171.16pts while, the Top Index shed 2.54% to 225,747.61.The Agriculture Index fell 1.79% to close at 1.355.61pts while, the Mid Cap Index faltered 0.37% to close at 2,097,699.97pts. Telecommunications giant Econet led the stragglers of the day on a 14.65% drop to $1,653.9313, having traded an intra-day low of $1,650.0000, followed by ZB Financial Holdings that tumbled 9.22% to close at $1,900.000. Pan African Seed Company SeedCo Limited declined 5.56% to $2,200.0021 while, Nampak Zimbabwe Limited fell by 4.07% to close at $470.0000. Ecocash Holdings completed the top five fallers list on a 3.55% slid to end the day locked in at $622.0833 on selling pressure. Zimre Holdings Limited capped the gainers of the day on a 11.81% jump to $265.0000 preceded by Zimbabwe Newspaper that added 1.44% to $101.4433. The market closed with negative breadth of four as eight counters registered gains against four that faltered.
Activity aggregates improved in the session as volume traded increased by 507.60% to 3.92m shares while, value traded grew by 307.87% to $7.31b. Econet most sought after stock of the day, driving both the volumes and values after contributing 66.66% and 59.11% respectively. Other volume drivers of the day were OK (16.60%), Seed co (8.28%) and Delta (5.65%). The triad of Delta, SeedCo and OKZim claimed a combined contribution of 39.86% of the value totals. Datvest ETF advanced 0.19% to $19.6904 while, the Old Mutual ETF declined 1.34% to end the day pegged at $79.9485. Cass Saddle recorded and Morgan and Co Made in Zimbabwe ETFs recorded no trades while, Multi Sector ETF traded flat at $701.5000.