ZSE Market Commentary 27 March 2024
ZSE surges ahead of Easter holidays….
The market remained afloat in the penultimate session of the month of March. The mainstream All Share Index jumped 6.18% to close at 844,265 .0lpts while, the ZSE Top Ten Index surged 6.80% to 383,848.60pts. The Agriculture Index improved 5.98% to 2,031.23pts while, the Mid Cap Index was 2.09% firmer at 3,108,166.78pts.
Seed manufacturer SeedCo Limited led the market charge on a 15.00% advance to $2,990.4924. Following was Fidelity that edged up 14.99% to $822.5500. Dairiboard added 14.98% to close at $2,932.0000 while, Meikles soared 14.38% to $7,000.0000. Completing the top five risers of the day was Tanganda that grew 14.07% to $4,998.0065. Trading in the negative territory was ZB Financial Holdings that dropped 761% to $6,500.0000.
Trailing was Ariston that retreated 7.03% to $65.0324 as apparel retailer Edgars wobbled 2.80% to $452.0000. Star Africa was 0.62% down at $16.8938 while, FML slipped 0.28% to settle at $5,619.0000. The market registered a negative breadth as gainers outnumbered fallers by a count of nine.
Volume of shares traded jumped 75.59% to see 1.89m shares exchange hands. Turnover for the day swelled 77.33% to $3.54bn. Top volume drivers of the day were Ariston, OKZIM,Econet and Star Africa which claimed a combined 70.23%. Value drivers of the day were Econet (26.20%), ZB (24.52%), Delta (14.65%) and TSL (10.83%) . The Morgan and Co MCS put on 8.59% to $885.0000 while, the Datvest ETF rose 3.03% to $29 .1667. On the contrary, the Morgan and Co MIZ dipped 12.88% to end at $17.4247 while, the Cass Saddle ETF was stable at $9 .0000 on 1,000 units. The Tigere REIT inched up 7.22% to end pegged at $917.0063 as 95,687 units traded.-efesecurities