ZSE Market Commentary 24 July 2024
ZSE takes a breather in mid-week session…
The ZSE market took a breather in mid-week session as the primary All Share Index slipped 0.22% to 203.47pts while, the Blue-Chip Index lost 0.4i% to 213.03pts. The Agriculture Index went up 0.01% to 190.67pts while, the Mid Cap Index added 0.46% to 171.62pts. Zimre Holdings led the laggards of the day on a 12.26% retreat to $0.2720, followed by banking group CBZ holdings that dropped 2.99% to $15.0358. Telecoms giant Econet slipped 0.14% to $3.9942 as it closed heavily offered on board while, Meikles capped the fallers of the day on a 0.04% slide to end the day pegged at $7.4005. Partially mitigating today’s losses was Proplastics that surged 14.44% to $1.0300, trailed by Star Africa that edged up 10.63% to settle at $0.0100. Mashonaland Holdings advanced 10.48% to $0.3188 while, RioZim firmed up 5.53% to $0.9500. Banking group NMB completed the top performers of the day on a 3.77% uplift to end the day pegged at $2.2902. The market closed with a positive breadth of nine after fourteen counters recorded gains against five that faltered.
Activity aggregates faltered in the session as volumes traded declined 36.63% to see 3.41m shares exchanged hands while, turnover succumbed 40.95% to $6.48m. The top volume drivers of the day were Ecocash (28.82%), Econet {27.02%), OKZim (24.42%) and Star Africa (9.31%). The duo of Econet and Delta claimed a combined 68.82% of the total value traded. A total of 78,021 units exchanged hands in the ETF section. Datvest ETF dropped 13.01% to $0.0300 while, Morgan & Multi Sector ETF ticked up 2.44% to close at $0.4200. OMIT ETF charged 2.59% to end the day pegged at $0.1800 after 1,000 units exchanged hands in the mid-week session. Tigere REIT traded 25,850 units flat at $1.0000 while, Revitus REIT trimmed 0.13% to close at $0.3446 on 11,170 units.-efesecurities
Bulls n Bears