eBusiness Weekly
Enacy Mapakame
Business Writer
Equities on the Zimbabwe Stock Exchange (ZSE) extended weekly gains, which saw all benchmark indices close in the positive.
During the week to Wednesday, the primary indicator — the ZSE All Share Index added 4,6 percent to 14 722 points from 14 066 points in the previous week.
The ZSE Top 10 Index rose by the same margin to close at 8 722 points while the ZSE Top 15 Index increased by 4,2 percent to 9 699 percent on solid demand in the heavy caps.
At 32 060, the Medium Cap was 4,4 percent above prior week level while the Small Cap rose by 9 percent to close at 525 250 points.
Total market value rose 4 percent to $1,78 trillion in line with the gains recorded across board.
Food and dairy processor Dairibord paced the fastest with a 56 percent gain to $49,93 followed by Willdale which rose 38 percent to $2,90. Property firm FMP added 31 percent to $9,04 while mining and agriculture implements supplier Zimplow added 22,8 percent to $17,80.
Simbisa completed the top five risers with a 22,4 percent increase to $214,26. The fast food group is expected to complete listing on the Victoria Falls Stock Exchange (VFEX) beginning on December 02, delisting from the ZSE on November 28, 2022.
Other gains were seen in the hospitality group — African Sun which rose 20 percent to $22 while Axia put on 18 percent to close the week at $$68,88.
NMB and RTG rose 10 percent to $21,80 and 9 percent to $7,64 respectively.
Further gains were offset by losses in BFCB which went down 98 percent to $26 followed by Art which lost 14 percent to $15,05.
Retail chain — OK Zimbabwe eased 4 percent to close the week at $31,57 while banking group FBC went down 3,9 percent to close at $49,95.
EcoCash completed the top five laggards with a 3,8 percent fall to $45,65.
CFI, Hippo, Masimba and Meikles remained unchanged at $411,25, $207, $75 and $100 respectively.
Trades on the exchange-traded funds (ETF) were largely depressed with Morgan and Co Multisector
ETF losing 9 percent to $21,25 while the Morgan and Co Made in Zim was down 7 percent to $1,06.
The Cass Saddle ETF eased 6 percent to close the week at $1,87 while the Datvest ETF went down by a marginal 0,17 percent to $1,73. The Old Mutual ZSE Top 10 ETF was however in the positive after gaining 4 percent to $5,49.
Elsewhere on the VFEX, Padenga was the sole trader on Wednesday as it dipped 15,53 percent to US27,03 cents on 92518 shares.
Meanwhile, the Nedbank Group says the listing of Nedbank Zimbabwe Depository receipts (ZDR) on the VFEX scheduled for November 18, 2022 will afford current shareholders and new investors a localised exit mechanism and exposure to Nedbank.
Nedbank, listed on the Johannesburg Stock Exchange (JSE) is not listed in Zimbabwe; hence shareholders can only sell on the JSE through Corpserve Nominees.
Currently, shareholders’ sale proceeds are subject to foreign exchange surrender requirements, which will be fully exempt on the VFEX.
