eBusiness Weekly
Malvern Nkomo
The Zimbabwe Stock Exchange All Share Index closed in the negative territory during the week to Wednesday August 16, down 1,9 percent to 118 988 points while the ZSE top 10 also closed 2,5 percent weaker from 56 938 points the previous week to 55 530 points during the week under review.
The overall market breath during the week was negative with 14 counters recording declines, 9 counters advancing and 25 remaining unchanged.
The ZSE Top 15 Index closed at 75 946 points a 2,4 percent decrease from last week’s level of 77 795 points while the Small Cap fell by a marginal 0,04 percent during the week, closing at 2 293 786 points from 2 294 671 points.
The negative performance this week was on account of declines in SeedCo, the biggest loser during the week and taking the first spot at $1 138 which was a 15,3 percent decrease from $1 344 recorded last week.
Afdis and Edgars both closed 11 percent weaker during the week to trade at $1 600 and $110 respectively.
Econet closed down 7,9 percent from $592,42 the previous week to settle at $463.
Ariston took the last spot on the top 5 fallers of the week, shedding 6,3 percent during the week to trade at $23,42.
Further losses during the week were stalled by gains in OK Zimbabwe, hitting $140,28 from $128,12 which translates to a 9,5 gain.
Star Africa closed firmer at $5,67 a 7,5 percent improvement from $5,27 while DZLH added 7,2 percent to settle at $472.
RioZim gained 5,2 percent to $522 and brick manufacturer Willdale gained 2,2 percent from $17,85 to trade at $18,25.
On exchange Traded funds the largest losses were recorded by Datvest MCS ETF, shedding 8,97 percent of value to $6,80 followed by Morgan&Co Made in Zim down by a marginal 0,4 percent to trade at $5.
The Old Mutual ZSE Top-10 ETF during the week recorded gains up 1 percent to $23,65 from $23,41.
Cass Saddle Agric ETF and Morgan&Co Muiti-Sector remained unchanged durig the week.
On the US dollar dominated bourse, the Victoria Falls Stock Exchange (VFEX), the largest gains were recorded by Simbisa, up 8,95 percent during the week to US$0,36 followed by Axia gaining 5 percent to trade at US$0,05.
Innscor edged up US1,69 cents to trade at US$0,40 while Natfoods also closed firmer up 3,8 percent to settle at US$2,09 from US$2,01 last week.
Bindura was the biggest loser on the VFEX plunging 10 percent to trade at US1,17 cents from US1,13 cents last week.
Gold prices touched five-month lows on Thursday, as the dollar and treasury yields gained momentum after recent upbeat economic data added weight to expectations that the US Federal Reserve would carry on with its policy tightening.
Spot gold held its ground at US$1,893 per ounce, having dropped to its weakest level since March 15 at US$1,888,30. US gold futures shed 0,3 percent to US$1,922,60.
Oil prices stabilized on Wednesday as investors weighed up worries about China’s embattled economy against tighter supply in the United States.
Brent Crude fixtures edged up 20 cents to US$85,09 a barrel while US West Texas International crude crept 18 cents higher to $81,17 per barrel.
