eBusiness Weekly
Enacy Mapakame
Laggards dominated trades on the Zimbabwe Stock Exchange (ZSE) with four of the benchmark indices closing the week in the negative.
During the week to Wednesday, the primary indicator the ZSE All Share Index retreated 1,6 percent to 6 090 points while the market’s heavies the ZSE Top 10 Index closed 0,7 percent below comparable week to settle at 3 131 points.
At 3 647 points, the ZSE Top 15 Index was 0,3 percent behind prior week.
The Medium Cap fell the heaviest with a 3 percent decline to 16 659 points. The Small Cap was the only index to register gains after rising 13 percent to 216 250 points.
Total market value eased 1,5 percent to $733 billion in line with losses recorded across board.
The week under review marked Padenga’s last trades on the local bourse as the crocodile breeder shifts to the USD denominated Victoria Falls Stock Exchange (VFEX) next week.
The local bourse announced it received a licence to operate a Central Securities Depository as part of efforts to enhance operational efficiencies on the market.
During the week, financial services firm, GetBucks led the laggards of the week with a 36 percent decline to $9,96 from $15,72.
Sugar processor — starafrica let go of 30 percent to close at $2,13 while GB Holdings gave up 19 percent to $2,24.
Brick-making firm, Willdale went down 14 percent to $3,60 while hospitality group, African Sun wrapped the week’s top five fallers with a 12 percent decline to $5,09.
Other losses were seen in ZBFH which backtracked 7 percent to $71. Market’s biggest counter by capitalisation, Delta eased 5 percent to $68,45 from $72,36 in the previous week.
The trio of Art, FCB and Seed Co went down 4 percent each to $7,60, $3,63 and $50,11 respectively.
Further losses were offset by gains in clothing retailer, Truworths which put on 40 percent to $2,45 while peers Edgar’s came 28 percent higher to settle at $4,59.
Unifreight jumped 25 percent to $28,50 while Turnall rose 22 percent to $4,71.
MedTech wrapped the week’s top five risers with an 18 percent increase to 27,86 cents.
Other gains were recorded in Zimpapers which added 17 percent to $3,16 while hospitality group, RTG also rose by the same margin to $5,29.
Fidelity Life and NMB put on 16 percent each to $10,48 and $14,02 respectively. ZHL put on marginal gains of 1 percent to $3,25. The diversified insurance firm indicated profit for the year to December 31, 2020, doubled to $0,9 billion on account of the strong top-line business growth in some business units in the region.
Diversified hospitality group, Meikles remained almost flat at $83,03 as the group weighs hospitality business in Zimbabwe after profits went down during the year to March 31, 2021 due to impacts of
Covid-19 on tourism. The hospitality operations posted a $122 million loss from a $629 million profit in the prior year.
Also maintaining prior week price was cigarette maker BAT which closed at $899 remaining the most expensive stock. Cement maker Lafarge was also flat at $60.
