Stock Market Weekly Review

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

eBusiness Weekly

Malvern Nkomo

The Zimbabwe Stock Exchange (ZSE) closed slightly positive during the week to Wednesday as the market capitalisation recorded marginal gains up 0,9 percent to $9,72 trillion.

Accordingly, the mainstream ZSE All Share Index gained 0,84 percent, up 1 028 points to 122 960 points during the week under review.

The ZSE Top 10 Index closed 0,4 percent weaker, shedding 217,28 points from 57 074,91 points last week to 56 857,63 points.

Similarly, the ZSE Top 15 Index closed 0,02 percent weaker, closing at 78 867,77 points from 78 880,71 points recorded last week.

However, Small Cap remained unshaken at last week’s level of 2 320 369 points.

The overall market breadth was positive with 18 counters recording gains, 7 counters declining and 23 remaining unchanged.

On the gainers list, Nampak was the top performer, appreciating by 39,95 percent from $130,04 last week to $182.

FML was the second best performer, up 30,67 percent from $150 to $196 while Ariston gained 19,7 percent to trade at $30.

BAT also closed pointing northwards, from $15 634 last week to trade at $17 925.

ZHL wrapped up the top five performers list, gaining $5,49 from $65 last week to $70,49 during the week under review.

During the week, Willdale was the worst performing stock, closing 45 percent weaker from $10 to $5,50 followed by CBZ which closed 21,5 percent weaker at $641,56.

Hippo also closed negative at $1 800 during the week, representing a 10 percent decline from $2 000 recorded last week.

Hotel Group RTG also closed in the negative territory, down 6,25 percent from $160 the previous week to $150.

FMP closed 4,44 percent weaker by close of trading, from $100,46 last week to $96.

On Exchange Traded Funds, Cass Saddle Agric ETF remained unchanged at $7,25 while Datvest MCS ETF recorded marginal gains up 0,26 percent to trade at $5,70.

Morgan&Co Made in Zim ETF recorded the largest gains during the week, up 14,9 percent from $5,50 last week to $6,32.

Morgan&Co Multi-Sector closed 6,96 percent weaker at $160,90 while OM ZSE Top-10 ETF closed 9,09 percent weaker at $21,50.

Gold prices lingered near a one-week low on Thursday with Spot gold steadying at US$1,919,68 per ounce. US gold futures held their ground at US$1,944.

Oil prices eased on Thursday with Brent crude futures falling by US24c to US$90,36 a barrel, after a nine-session winning streak. US West Texas Intermediate (WTI) crude futures fell by US29c to US$87.25 after a seven-session gain.

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