The Zimbabwe Stock Exchange (ZSE) has endured a tough week of losses across the board as the local currency continued to lose its grip against the greenback on the formal market.
The ZSE All Share Index was weighed on by the heavyweight stocks with the Top 10 Index shedding 8,54 percent in the week to close at 7 826,89, but still boasts a 14,91 percent year-to-date gain.
As a result, the ZSE ASI closed 6,29 percent weaker leaving it at 13 808.13. The Index has however gained 27,59 percent in the year but is far below the yearly inflation rate of 203 percent, leaving investors having negative returns in the year.
In the top fallers of the week, Axia was down 15,72 percent to $63,96 with the company entering its birthday month. Delta, which is looking to expand its operations in the next six months shed 14,39 percent in the period under review as it closed Thursday trading at $196,14.
Proplastics and CFI endured a tough week with the two companies closing the week 13,75 percent and 12,95 percent weaker at $27,60 and $358,00 respectively.
Telecoms company Econet slipped 12,21 percent in the week to end at $71,98.
The Medium Cap Index was off 1,69 percent to close Thursday’s session at 32 952.75 leaving it with a year to date gain of 61,48 percent, the highest of all indices.
Capping the losses, the Small Cap Index managed to close the period with a week-to-date loss of 1,46 percent leaving it at a level of 511 208.46 and a year-to-date gain of 26.93 percent.
In the gainers’ column properties firm First Mutual Properties soared 25,00 percent in the week to Thursday closing at $10,00. First Mutual Holdings gained 5,32 percent to close the week at $24,75.
Property firm Mashonaland Holdings opened the week at $7,81 and added 3,71 percent to close Thursday’s session at $8,10.
African Sun and Edgars closed the week with gains of 3,63 percent and 3,23 percent, respectively taking their stock prices to $25,90 and $8,00.
The ETF market was mixed with the Cass Saddle Agric ETF closed unchanged at $2,00, and two losers and two gainers. The Morgan & Co Made in Zim ETF added 8,11 percent in the week to $1,20 whilst the OM ZSE Top-10 ETF ended Thursday close of day with a gain of 19,25 percent to close at $6,31.
Morgan&Co Multi-Sector and the Datvest MCS ETF closed 9,09 percent and 4,90 percent lower to close at $20,00 and $1,62.
The market closed valued at $1,67 trillion 6,54 percent lower than the opening value of $1,78 trillion, with Delta being the most capitalised firm at $256 billion and accounting for 15,38 percent of the market However, the market has a year to date gain of 26,46 percent.