ZSE Market Commentary 16 April 2024

ZSE continue to falter …

The market continued to falter in Tuesday’s session as losing stocks outweighed the gainers to leave the market in the red. The mainstream All Share Index dropped 0.81% to close at 98.43pts while, the Mid Cap Index let go 0.96% to 100.94pts. On the contrary, the ZSE Top Ten Index charged 1.70% to 99.71pts while, ZSE Agriculture Index put on 0.48% to end at 100.93pts.

Star Africa headlined the decliners of the day on a 0.85% to $0.0030, followed by Econet that trimmed 0.11% to $1.7299. SeedCo Limited shed 0.10% to close at $1.8000 as Turnall retreated 0.02% to $0.0275. CBZ completed the top five shakers of the day on a 0.004% loss to $3.9500. The tripartite of Willdale, OKZIM and Ariston led the positive movers of the day on a similar 0.12% gain to close at respective prices of $0.0450, $0.5280 and $0.0562. Hippo improved 0.09% to $3.7800 as Zimre holdings added 0.08% to $0.2600.

Activity aggregates were mixed in Tuesday’s session as volumes dipped 26.35% to 177,200 shares while, turnover jumped 20.26% to $80,936.84. Ariston and Star Africa contributed a combined 78.95% of the volume outturn. Driving the value aggregate was Delta and Econet claimed 52.60% and 18.60% respectively. The Datvest ETF surged 15.00% to $0.0230 while, the Old Mutual ETF grew 11.19% to $0.1043. The Morgan and Co MCS went up 3.58% to $0.3800 on 640 units. The Tigere REIT climbed up 7.55% to end $0.5527 while, the Revitus property slipped 1.83% to $0.2200.-efsecurities