ZSE Market Commentary 18 Mach 2024
Bullish sentiment prevails in Monday’s session as demand continues to firm up
The bullish sentiment prevailed in Monday’s trades as demand in selected counters continued to skyrocket. A total of twenty counters registered trades in the session segregated into fifteen gainers, five that sailed stable and a nil position of losers. The All-Share Index garnered 7.43% to end at 667,849.02pts while, the Blue-Chip Index edged up 8.64% to settle at 307,868.65pts.
The Agriculture Index added 3.79% to end at 1,373.93pts while, the Mid-Cap went up 2.21% to close at 2,419,502.76pts. Leading the gainers of the day was BridgeFort Capital Class A that garnered 21.43% to close at $85.0000 as scrappy 201 shares traded. Dairy processor Dairibord inched up 15.00% to $1,265.0000 while, bankers ZB followed as they rose by a similar 15.00% to end at $1,265.0000. Cable manufacturer CAFCA also edged up 15.00% to close trading at a VWAP of 15,525.0000 while, beverages producer Delta closed at a VWAP of $13,353.0399 as 74,900 shares traded in the name despite, closing heavily bid.
Activity aggregates enhanced in the session as volumes traded jumped 80.14% to 2.10m shares while, turnover increased by 87.91% to see $6.41bn exchange hands. Activity was mainly confined in Delta that claimed 66.27% of the volume and 63.79% of the turnover. The other notable volume driver was Seedco limited that contributed 11.54% of the total. In the turnover category, Delta was the other notable value driver as it claimed 14.38% of the total.
In the ETF category, only three funds registered price movement in the session as they all closed pointing northwards. The Old Mutual Top 10 ETF garnered 9.26% to close at $115.0000 while, the Datvest MCS advanced 1.82% to $20.3636 as it only traded 550 shares in the session. The Morgan & CO Made In Zimbabwe was 1.30% higher at $19. 5000. In the REIT category, the Tigere REIT climbed 0.98% to $760.1871 while, Revitus Property Opportunities scaled up 1.83% to $551.9286.-efe