Stock Market Weekly Review

01 Sep, 2023 - 00:09 0 Views
Stock Market Weekly Review ZSE

eBusiness Weekly

Malvern Nkomo

The local currency-dominated bourse, the Zimbabwe Stock Exchange (ZSE) closed positive during the week to Wednesday 30 August, with the ZSE All Share Index closing positive at 121 932 points.

The overall market breadth was positive with 20 counters advancing, 14 counters closing negative and 14 remaining unchanged. The ZSE Top 15 Index recorded marginal gains, up 0,8 percent during the week to 78 881 points.

Small Caps closed at 2 320 369 points from 2 293 786, a 1,2 percent improvement from last week.

The ZSE Top 10 Index however closed 0,2 percent weaker at 57 075 points.

The total market cap for the week stood at $9,7 trillion, a 1 percent gain from last week’s level of $9,6 trillion.

The top performers list for the week was led by RioZim up 14,98 percent from $521,85 the previous week to $600.

DZLH went up 13,7 percent to trade at $643,05 while ZHL closed at $65,00, a 12,1 percent gain.

BAT closed in the positive territory, up 11,3 percent to trade at $15 634,48 and Star Africa went up 11,2 percent to $5,66.

Moving to the top five losers, Willdale recorded the biggest loss, down 43,8 percent from $17,80 last week to $10.

This comes despite the company’s recent statement that sales volumes for the quarter to June 30 2023 increased by 26 percent credited increased construction activity during the period.

FML and Masimba closed negative during the week, to trade at $150 and $450,35 respectively, both shedding 11,7 percent.

Getbucks closed 11,63 percent weaker from $43 the previous week to trade at $38.

Nampak closed in the negative region, down 11,5 percent to trade at $130,05.

On Exchange Traded Funds, Cass Saddle Agric ETF and Morgan&Co Made in Zim remained unchanged at last week’s price of $7,25 and $5,50 respectively.

Morgan&Co Multi-sector closed positive up 1,7 percent to trade at $172,93 from $170 last week. OM ZSE Top-10 ETF recorded marginal gains, up 0,7 percent to $23,65.

Datvest MCS ETF however, closed negative at $5,69 a 3,6 percent decline from last week’s $5,90.

Gold prices firmed near one-month highs on Thursday as a fresh set of soft US data added to expectations that the Federal Reserve will pause rate hikes this year, though inflation readings due later in the day could amend this outlook.

Spot gold was up at US$1,945 per ounce by US gold futures steadied at US$1,972

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