eBusiness Weekly
Business Writer
ZIMBABWE Stock Exchange (ZSE) total market value for the week to Wednesday 29 March rushed 4,71 percent to close the week at $3,29 trillion.
This was a rise from $3,14 trillion posted in the comparable period last week.
However, the All Share Index slumped 2, 08 percent to close at 37,720.92 points, while the top 10 performance declined by 4,35 percent to 22 323,61 points from 23 339,55 points.
The week was also not all radiant for the Top 15 Index as it fell 3,78 percent to 26 264,80 points compared to 27 297,17 points recorded in the prior week.
Small Cap Index was the top rising Index in course of the week as it surged 5,23 percent at 697 921,97 points.
The positive performance is attributable to gains made in the property firm, Mashonaland Holdings as it surged 25 percent, ending the week at 1 375 cents.
Mashonaland Holdings was the top riser during the week. Earlier this month ZB Financial Holdings (ZBFH) announced that it now holds a controlling stake of 50,58 percent in the property firm after completing its offer to minority.
ZBFH has since highlighted that it regained control of the property firm to influence its strategic direction and also unlock trapped value at the same time unleashing latent potential in its underwriting business.
TSL Limited was the succeeding top riser in course of the week as it ended the week 17, 6 percent on the positive than 8 500 cents posted in the previous week to end the week under review at 10 000 cents.
This comes on the back of a 106 percent rise in TSL‘s inflation-adjusted revenue in the first quarter to January 2023 attributable to strong volumes uptake in the agri-inputs business coupled with an impressive performance in the logistics business.
The logistics division recorded significant volumes growth ahead of the same period in 2022, as the unit incorporated additional business from old and new customers.
First Capital Bank (FCB) was the third top riser during the week improving 16,95 percent to 3 385,97 cents ahead of 2 895 cents in the prior comparable week.
In its audited financial results for the year to December 31, the Victoria Falls Stock Exchange (VFEX) bound financial institution highlighted that its total balance sheet value increased 55 percent from $104 billion on December 31 2021 to close at $160, 8 billion on December 31, 2022.
This was significantly driven by a 66 percent growth in bank deposits which grew to $56,4 billion in 2021 to $93,5 billion at the end of 2022.
Clothes manufacturer Edgars’ and construction industry player Masimba Holdings, wrapped the week as fourth and fifth top risers after soaring 14,9 and 14,5 percent respectively.
EcoCash, ZBFH, Econet, Star Africa, and Nampak were the top fallers in the week.
EcoCash dropped 20, 51 percent ending the week at 7153.72 cents while ZBFH took a 13, 2 percent dip with a share price declining to 10 196. 88 cents from the prior week’s 11 750 cents.
