Stock Market Weekly Review

17 Jun, 2022 - 00:06 0 Views
Stock Market Weekly Review

eBusiness Weekly

Enacy Mapakame

Losses in the market’s big cap counters dragged the Zimbabwe Stock Exchange (ZSE) into the negative with four of the benchmark indices closing the week pointing southwards.

During the week to Wednesday, the primary indicator, the ZSE All Share Index retreated 1,45 percent to 23 790 points from 24 140 points in the previous week.

The market’s heavies, the ZSE Top 10 Index went down 2,6 percent to 15 328 points while the ZSE Top 15 Index lost 2,4 percent of value to close at 16 937 points.

At 480 838 points, the Small Cap was 1,8 percent below prior week. The Medium Cap was the only index to record gains with a 2 percent increase to 42 560 points.

Total market value went down 1,6 percent to $2,9 trillion from $3 trillion recorded in the previous week.

Conveyor belts maker, GB Holdings eased 21 percent to $1,09 from $139 recorded in the previous week.

Agriculture concern, Ariston, gave up 14 percent to close the week pegged at $3,50 while Nampak went down 13 percent to $14,77. Media group Zimpapers lost 9,1 percent to $5 while Art completed the top five fallers with a 9 percent decline to $20.

Further losses were offset by gains in Mashonaland Holdings which put on 41 percent to $6,24 followed by TSL which added 39 percent to $115.

Property firm FMP rose 35 percent to $11 compared to $8,10 recorded in the previous week.

Insurance giant FML put on 19 percent to close at $28,75 from$24 recorded in the previous week.

Hospitality group African Sun wrapped the week’s top five risers with an 18 percent increase to $24.

Other gains were seen in the duo of Willdale and Hippo that rose 14 percent each to $4 and $373,20 respectively.

Insurance firm Fidelity gained 13 percent to $22,60 while peers ZHL added 7 percent to $5,91.

On the resources side, RioZim remained flat at $110. Also maintaining prior week levels, Seed Co, NTS, Natfoods and Afdis at $229, $11,70, $2000 and $340.

Activity on the ETFs was mixed on Wednesday. The Old Mutual ETF went down 0,01 percent to $11,47 as the Morgan and Co ETF tumbled 4,71 percent to $24,46.

The Datvest ETF was the sole riser among the ETFs, having ticked up 0,83 percent to $2,36.

On Thursday, another ETF was launched – Morgan and Co Made in Zimbabwe ETF which focuses on local manufacturing companies that are Delta, Star Africa, Art, Nampak, Hippo, BAT, Innscor, Lafarge and Turnall.

Elsewhere, on the VFEX, Bindura was the only counter to trade on the exchange as it surged 12,22 percent to close at US4,50 on 212,355 shares.

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