Stock Market Weekly Review

02 Jun, 2023 - 00:06 0 Views
Stock Market Weekly Review ZSE

eBusiness Weekly

Malvern Nkomo

The Zimbabwe Stock Exchange (ZSE) closed positive during the week to Wednesday March 31 with a market cap of 8,94 trillion which was a 15,7 percent improvement from last week.

ZSE All Share Index levelled at 16,3 percent better at 108 195 points compared to last week’s 93 116 points.

The ZSE Top 10 Index closed the week up 15,4 percent at 65 894 points from 57 127 points recorded last week.

The ZSE Top 15 Index rose from 66 124 points recorded last week to 76 921 points during the week under review.

Small Cap improved by a mild 4,5 percent to end the week at 1 024 955 points during the week under review.

The giant seed manufacturer, SeedCo, recorded the largest gains during the week, up 71,4 percent to close at $970, followed by TSL which closed the week at $345 representing a 64,3 percent gain from $210 recorded last week.

The duo of CBZ and ZB financial Holdings went up by 52 percent closing at $804,5 and $277,55 respectively.

Tanganda wrapped up the top five risers list recording a 45,96 gain to trade at $1 066 from $730 recorded the previous week.

However, the market was also pulled back by the top fallers of the week with Zimplow being the biggest loser, plunging 16,7 percent to trade at $75 from $90 recorded last week.

Clothes manufacturer, Edgars, also went down by 10,7 percent closing at $50 from $56 last week.

NMB and GB Holdings during the week lost 8 percent and 2 percent of their value respectively to trade at $100 and $4 in that order.

ProPlastics recorded a mild 1,5 percent loss from $388 ,87 to $382,93 during the week under review.

On Exchange traded funds Morgan&Co Multi-Sector recorded the largest gains up 35,4 percent from $50 to $67,71 while OM ZSE Top-10 ETF rose by 25,8 percent to $24,52.

Cass Saddle Agric ETF rose by 23,2 percent during the week under review to trade at $3,45 from $2,80 last week.

By close of trading Datvest MCS ETF stood at $5,69.

This was a 15,4 percent improvement from $4,93 recorded the previous week.

Morgan&Co Made in Zim however was the only to close in the negative region losing by 2,2 percent at $3,57.

On the commodities market, oil prices rose on Thursday, reversing earlier losses as a potential pause in US interest-rate hikes and the debt-ceiling bill passing a crucial vote renewed optimism about further fuel-demand growth in the world’s biggest oil consumer.

US Federal Reserve officials on Wednesday pointed towards a potential rate hike “skip” in June that reversed market expectations of an imminent hike that could slow economic growth and weaken oil demand.

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