ZSE Market Commentary 21 March 2024
ZSE maintains gains in Thursday’s trades …
The ZSE market-maintained gains in the penultimate session of the week as all the four benchmark indices under our review closed pointing northwards. The All-Share Index inched up 2.64% to close at 748,995.77pts while, the Blue-Chip Index advanced 2.03% to end at 345,093.30pts.
The Agriculture Index went up 5.39% to settle at 1,667.17pts while, the Mid Cap Index notched up 7.56% to end at 2,791,426.94pts. Penny cap counter Willdale that is trading under a cautionary led the gainers of the day as it surged 32.74% to $67.8268 while, Turnall advanced 19.84% to $65.0000. Agriculture concern CFI inched up 15.00% to close at $2,990.0000 as 1,479 shares traded in the name while, rarely traded counter First Mutual Holdings garnered 15.00% to settle at $5,635.0000. Banking group ZB charged a similar 15.00% to end the day trading at $4,626.1000 as it fastened the top five gainers list of the day.
Trading in the negative territory was seed producer SeedCo Limited that shed 0.59% to end at $2,238.0165 followed by beverages producer Delta fell by 0.41% to end at a VWAP of
$14,440.5494. Fintech group Ecocash retreated 0.19% to end at $601.9181 while, property company Mashonaland was 0.08% lower at $339.7321. Tea producer Tanganda lost a negligible 0.0024% to end at $3,888.8036.
Activity aggregates improved in the session as volume traded rose by 0.44% to see 1.34m shares worth $4.32bn exchange hands in the session. This represented a 18.70% increase in t1..1rnover. Econet, Star Africca and Delta led the volume driver of the day they contributed 24.53%, 19.77% and 11.01% respectively. The duo of Delta and Econet were the top turnover drivers of the day as they claimed 74.1% of the total value traded. In the ETF category, the Datvest MCS charged 7.04% to settle at $25.0475 while, the Old Mutual Top 10 ETF added 1.15% to settle at $141.6142. The Morgan & CO Made in Zimbabwe ETF fell 5.14% to $18.4977. The Tigere REIT was 0.17% up at 777.9603 while, Revitus opportunities jumped 1.46% to end at $560.0000.
Bulls n Bears