eBusiness Weekly
Malvern Nkomo
The Zimbabwe Stock Exchange (ZSE) closed positive during the week to Wednesday July 12, recording gains across the board.
This also comes as the Reserve Bank of Zimbabwe (RBZ) revealed plans to kickstart digital gold-backed token transactions in a month.
The gold coins and the digital gold-backed gold coins were some of the tools used to mop up excess liquidity which yielded positive results in stabilising and restoring value to the local currency.
The ZSE All Share Index firmed 1,64 percent during the week to close at 118 995 points while the ZSE Top 10 Index closed at 54 315 points from 53 191 points recorded last week.
This was a 2,2 percent improvement.
ZSE Top 15 Index during the week under review closed 1,6 percent stronger than last week’s 74 488 points.
Small Caps rose by 6,4 percent to settle at 2 299 283 points from 2 2 160 143 points last week.
The total market cap rose by a mild 1,45 percent from $9,35 trillion to $9,49 trillion during the week. Of the top performers, DZLH paced the fastest closing at $362,35, a 20,8 percent improvement from $300,05 recorded last week.
Edgars went up 19,3 percent during the week under review, closing at $124.
NTS and EcoCash rose by almost the same margin improving by 14,6 and 14,4 percent respectively, to trade at $21,20 and $112,98 in that order.
This comes as EcoCash continues to offer convenience to its customers in sending and receiving money from both local and international sources as evidenced by the recent opening of a new remittance centre in Harare Joina City.
Financial service provider CBZ closed in the positive region during the week, up 8,5 percent to trade at $870,38.
However, further gains during the week were slowed down by declines in RioZim recording the largest losses, down 10,4 percent to trade at $492.
ZHL during the week, closed negative, down 7,4 percent from $69,14 last week to $64.
Star Africa also closed 7,1 percent weaker from $5,38 last week to $5 during the week under review.
OK Zimbabwe closed in the negative territory, down 6 percent to trade at $127,83.
Hippo wrapped up the top five losers list, recording the least gains down 5,3 percent to trade at $1 895,50 from $2 000,31 last week.
During the week, all the Exchange Traded Funds closed in the negative region with Morgan&Co Multi-Sector recording the largest decline, down 15,2 percent to trade at $167,45.
Datvest MCS ETF closed 5,9 percent weaker during the week under review to $8 while Cass Saddle Agric ETF followed, shedding 5,6 percent to trade at $6,41.
Morgan&Co Made in Zim closed down 5,3 percent from $5,81 to $5,50 during the week.
OM ZSE Top-10 ETF fell by a mild 0,2 percent from $24 last week to $23,95.
Elsewhere on the Victoria Falls Stock Exchange, most counters on the US dollar dominated bourse recorded losses with Axia being hit the hardest, down 66 percent to trade at US 5,2 cents.
African Sun was the second top loser on the bourse shedding 59,4 percent to trade at US 4 cents from US 4,06 cents recorded last week.
Bindura and FCB fell by 56 percent and 53,5 percent respectively to trade at US 1,41 cents and US 2 cents during the week under review.
Innscor plunged 47,4 percent from US 42,9 cents last week to US 37,05 cents.
