eBusiness Weekly
Enacy Mapakame
Equities on the Zimbabwe Stock Exchange (ZSE) traded positive during the week with all benchmark indices closing pointing northwards.
During the week to Wednesday, the primary indicator the ZSE All Share Index rose by 1,7 percent to close at 21 817 points.
The big caps, the ZSE Top 10 Index advanced 1 percent to 13 440 points while the ZSE Top 15 rose by 1,6 percent to close pegged at 15 007 points.
At 44 241 points, the Medium Cap was 3,5 percent above prior week level while the Small Cap 1,1 percent to 474 841 points.
In line with the gains recorded across board, total market value jumped 1,5 percent to $2,353 trillion from $2,318 points recorded in the prior week.
Seed Co Limited paced the fastest with a 31 percent increase to $135,13. The seed processor announced plans to migrate from the main bourse to the Victoria Falls Stock Exchange (VFEX) in a move that will help the group unlock value.
At $322,05, sugar processor — Hippo was 14,9 percent above prior week level. Cafca also rose by the same margin, 14,9 percent to close at $230,10.
Proplastics wrapped the week’s top five risers with a 13 percent increase to $40.
Other gains were seen in diversified hospitality group — Meikles which rose 9 percent to $165 while Tanganda and FMP added 6 percent to $135,05 and 7 percent to $12,95 respectively.
Further gains were weighed by losses in dairy and food processor Dairibord which went down 17 percent to $45,27. Next was Ariston which eased 14 percent to $4,25 as the agriculture concern reported depressed revenue performance for the quarter to December 31, 2022.
Ariston said revenue for the quarter went down 27 percent attributable to potatoes which were sold in December in prior year whereas in the current year, these were sold in January 2023.
Sugar processor — Star Africa lost 13 percent to $1,90 while brick maker Willdale let go of 8 percent to $3,19.
Fintech firm EcoCash completed the week’s biggest five laggards with a 7 percent decline to $50,69.
Spirits and wines maker Afdis remained flat at $263,40. Also maintained prior week levels were CFI, Fidelity, General Beltings and NTS at $430, $24, $1,80 and $12 in that order.
On the exchange traded funds (ETFs) market, Cass Saddle Agric ETF paced the fastest with a 13 percent increase to $2,24 followed by Morgan & Co Multi- Sector which rose 7 percent to $24,50. Morgan & Co Made in Zim rose by a marginal 0,72 percent to $1,30.
The Datvest ETF went down 4 percent to $1,51 while Old Mutual ZSE Top 10 ETF fell by a marginal 0,3 percent to $,46.
Elsewhere, VFEX was largely muted with Bindura being the only counter to record gains after it rose 11 percent to US2,4 cents.
Diversified crocodile breeder Padenga lost a marginal 0,47 percent to US29,67 cents.
Caledonia, Natfoods, Nedbank ZDR remained unchanged at US$13, US$1,81 and US$11,50 in that order. Also remaining flat were Seed Co International and Simbisa that closed at US27,97 cents and US48 cents.
