eBusiness Weekly
The equities market maintained an upward trajectory with all benchmark indicators on the Zimbabwe Stock Exchange (ZSE) closing the week to Wednesday in the positive in gains led by mid-tiers and small caps.
During the week under review, Small Caps paced the fastest with a 10 percent increase to 446 962 points compared to 404 898 points recorded in the previous week.
The primary indicator, the ZSE All Share Index rose 4,68 percent to close the week at 16 455 points. At 10 845 points, the ZSE Top 10 Index was 4,2 percent above prior week while the ZSE Top 15 Index rose by 4,1 percent.
Medium Caps came in at 27 331 points, representing a 5,6 percent growth on previous week.
Total market value jumped by 4 percent as the market breached the $2 trillion mark.
Turnall headlined risers for the week with a 47 percent jump to close the week at $7,10 from $4,80 recorded in the comparable. Property firm, FMP put on 41 percent to settle at $12,57 as the property market especially the central business district office space has remained subdued due to the effects of Covid 19 which forced businesses top adopt remote working among other factors.
Cables manufacturer, Cafca rose 38 percent to $250 while banking firm FCB put on 35 percent to settle at $6,10.
At $273,59, Simbisa was 26 percent firmer as it wrapped up the week’s top five risers.
Other gains were seen in Natfoods which put on 21 percent to $2 056,91 while African Sun rose by 20 percent to $10,43.
During the week, insurance giant, FML rose by a marginal 2 percent to $18 as the firm announced in a cautionary that regulator, Pensions and Insurance Commission (IPEC) intends to investigate its subsidiary, First Mutual Life Assurance Company.
The market was not short of fallers as diversified media group, Zimpapers backtracked 21 percent to $2,60 followed by MedTech which gave up 14 percent to $18. Sugar processor, Hippo eased 8 percent to close at $289,98 from $316.
Food and dairy processor, Dairibord, went down 5 percent to $34 while Proplastics wrapped the week’s top five fallers with a 4 percent decline to $42.
Other losses were seen in Star Africa which lost 3 percent to $1,35 while Zimplow and Meikles fell by the same margin to $19 and $134,50 respectively.
Fidelity Life remained unchanged at $13 while NTS and Seed Co were also flat at $8,40 and $180 respectively.
During Wednesday trading, Exchange Traded funds declined in the session, as the Morgan & Co ETF was 1,65 percent down at $14,54 while, the Old Mutual ETF retreated 0,34 percent to $8,43. Datvest ETF lost 0,79 percent to $1,86.
A total of 175,196 ETF units worth $785,733.80 were traded in the session. Elsewhere, on the Victoria Falls Stock Exchange (VFEX), Padenga retreated by 0,05 percent to US21,04 cents on 13,374 shares.
During the week, Central Bank has announced that it will issue a $100 note to facilitate ease of transactions.
