ZSE Market Commentary 10 June 2024
Heavies weigh on the market in Monday’s trades…
The market continued to falter in Monday’s trades mainly weighed down by heavy cap counters. The All-Share Index shed 0.27% to 105.82pts while, the Blue- Chip Index was 0.53% lower at 108.37pts. The Agriculture Index trimmed 0.10% to end the day pegged at 95 .09pts while, Mid-Cap Index added 1.09% to close at 106.42pts.
Pipe manufacturer Proplastics led the laggards of the day as it eased 9.75% to end at $0.3375 as a circa of 462,600 shares exchanged hands in the name. The duo of Econet and Ecocash lost 5.37% and 1.86% to see the former close at $1.7141 and the latter at $0.1963. Seed technology group SeedCo Limited ticked down 1.41% to end at $1.7000 while, retailer OK Zimbabwe capped the top five worst performers of the day on a 0.59% loss to $0.4473. Partially offsetting today’s losses was Unifreight that edged up 11.54% to $0.2900 while, Meikles rose 8.40% to $4.1322 as demand continued to increase in the counter. Property concern First Mutual inched up 8.11% to close at $0.4000 while, insurer Fidelity was 4.65% higher at $0 .9000. Agriculture concern Ariston added 2 .31% to settle at $0.0399.
Activity aggregates improved in the session as volume traded rose 71.04% to 1.57m shares while, turnover increased by 13.48% to $2.48m. Proplastics, Econet, Star Africa and Delta drove the volume aggregates of the day as they contr ibuted 29.48%, 26.90%, 17.78% and 11.48% respectively. The duo of Delta and Econet anchored the turnover of the day as they claimed a combined 89.45% of the total. In the ETF category, the Old Mutual Top 10 ETF was 1.72% up at $0.1057 as 39,100 shares traded. The Tigere REIT was 0.02% lower at $0.6600 as 380,845 units exchanged hands during the session – efesecurities