eBusiness Weekly
Marlven Nkomo
The Zimbabwe Stock Exchange (ZSE) recorded gains during the week to Wednesday 9 August with the ZSE All share closing 1,93 stronger at 121 295 points from 118 995 points recorded prior week.
The ZSE Top 10 Index during the week firmed 4,8 percent to 56 938 points while the ZSE Top 15 Index rose by a mild 2,8 percent to 77 795 points.
Small Caps, however, closed in the negative territory, falling slightly by 0,2 percent to 2 294 671 points during the week.
In line with the gains recorded, the total market capitalisation during the week rose by almost 2 percent from $9,49 trillion recorded last week to $9,67 trillion during the week under review.
The overall market breadth was negative with 20 declines, 15 advances and 13 counters remaining unchanged.
On the top risers for the week were DZHL that was the headline performer, gaining 21 percent in value from $362,35 to $439,80 during the week under review.
Next was Fidelity Life, strengthening by 14,9 percent during the week from $113,25 to trade at $130,14.
BFCB closed 14,8 percent above the last week’s level to trade at $33,65 while beverage manufacturer Delta rose by 13,2 percent to trade at $2 040,76.
EcoCash closed 8,2 percent stronger by close of trading to $139,82.
This comes as the EcoCash holdings and Econet Wireless Zimbabwe shareholders approved resolutions allowing the two companies to raise US$30,3 million separately through a rights issue offered to existing shareholders at discounted price.
On the flipside the largest declines were recorded by BAT, shedding 15,1 percent from $16 489,45 to trade at $13 999,95 during the week under review.
Shedding almost the same value, ZBFH closed at $635, 14,99 percent weaker than last week.
TSL during the week closed down 14,3 percent to trade at $520 while Ariston shed 13,7 percent to settle at $25 from $28,95 last week.
By the end of trading, Seed Co closed down 10,4 percent to trade at $1 343,95.
On Exchange traded funds Cass Saddle Agric ETF closed down 1,6 percent from $6,31 last week to $6,41.
Datvest MCS ETF shed 6,6 percent during the week from $7,47 to trade at $8 while Morgan&Co Made in Zim closed 8,7 percent weaker at $5,02.
Morgan&Co Multi-Sector firmed 7,5 percent closing at $180 while OM ZSE Top-10 ETF closed at $23,41, a decline of 2,3 percent from last week’s level.
Oil retreated on Thursday from multi-month peaks hit in the previous session as a higher US crude inventory and sluggish economic data from China raised concerns about global fuel demand.
Brent crude fell by US$0,09 to US$87,46 a barrel, after settling at its highest since January 27 in the previous session.
