ZSE Market Commentary 27 May 2024
ZSE records gains in week opening session.••
The ZSE market recorded gains in the week opening session as the All-Share Index firmed up 1.25% to 100.72pts while, the Blue-Chip Index added 2.66% to 101.9lpts. Contrastingly, the Agriculture Index lost 4.11% to 89.30pts while, the Mid Cp Index eased 1.31% to 98.94pts.
Telecoms giant Econet headlined the top performers of the day on a 14.43% jump to $2.0645, followed by Star Africa that surged 12.93% to close at $0.0082. Fintech group Ecocash Holdings surged 7.88% to $0.1764 while, Proplastics ticked up 3.86% to close at $0.4355. Banking group ZB financial Holdings completed the top five winners of the day on a 2.70% uplift to settle at $1.9000.
On the contrary, sugar processor Hippo led the laggards of the day on a 15.00% drop to $3.4000 while, retailer OK ZIM tumbled 14.90% to settle at $0.3830. Art slipped 8.88% to $0.0811 while, tea processor Tanganda retreated 8.23% to close at $1.7000 on scrappy 900 shares. Nampak completed the top five fallers of the day on a 5.00% decline to $0.3800. The market closed with a positive breadth of one after nine counters recorded gains against eight that faltered.
Activity aggregates enhanced in the session as volumes traded ballooned 2,118.68% shares while, value traded grew 147.97% to $2.67m. Econet anchored today’s activity after contributing 53.82% to the total volume traded and 45.25% to turnover. Other notable top value drivers of the day were Delta (35.16%), NMB (8.79%) and ZBFH (4.03%}. In the ETF section, Cass Saddle traded 1.22m units flat at $0.0080 while, OMTI ETF fell 0.35% to $0.1095. The Tigere REIT dropped 9.01% to $0.5914 after 33.21m units exchanged hands in the opening session. The Revitus REIT eased 0.01% to end the day pegged at $0.2200.-efesecurities