eBusiness Weekly
Malvern Nkomo
Stocks on the Zimbabwe Stock Exchange (ZSE) ended the week to Wednesday in the green as the benchmark ZSE All Share Index gained above 6 percent at 157 919 points.
The ZSE Top 10 Index rose 7,8 percent during the week to 70 140 points from 65 084 points while the ZSE Top 15 Index added 6 677,5 points to close the week at 94 526,40 points.
The Small Cap Index rose by a mild 2,8 percent to 5 064 394 points from 4 925 114 points the previous week.
In line with the recorded gains, the market capitalisation closed at $12,64 trillion.
The overall market breadth during the week was positive with the market recording 24 advances, 8 declines and 15 remaining unchanged.
Best performing counters for the week were led by GB Holdings, up 53 percent to $17,25 percent followed by brick manufacturer Willdale adding $6,46 (40 percent) to $22,60.
Seed Co also traded positive during the week, up 15,8 percent to $857,10 after adding $96,35 last week while NMB closed the trading session at $347,40.
This was a 15,8 percent improvement from last week’s $300 level.
Also trading in the positive, DZLH closed 15,55 percent better than last week to $550 from $476.
However, some losses were recorded in CFI, down 9,1 percent to $2 000.
BAT fell 2,82 percent during the week to $13 500 from $13 892,86 while Meikles shed 2,61 percent to close the trading session at $9 405,60.
Nampak also closed Wednesday’s trading session 2,55 percent weaker to $335,22 from $334 recorded last week.
EcoCash lost 1,5 percent during the week to $136,82 from $138,93 recorded last week.
On Exchange Traded funds (ETF’s), Old Mutual ZSE Top-10 ETF was the best performing ETF up 18,8 percent to $35,65 followed by Datvest MCS ETF, recording marginal gains of 1,17 percent to $7,20.
Trading in the negative were Morgan&Co Made in Zim, down 14,05 percent from $7,90 to $6,78.
Morgan& Co Multi-Sector also closed in the red, down 0,56 percent to $25 159.
Cass Saddle Agric ETF remained unchanged during the week at last week’s $7,25.
Moving to commodity prices, Oil gained 1 percent on Thursday, snapping a three-day decline, as risk appetite returned to financial markets.
Brent crude futures rose US$1,28, (1,51 percent), to US$85,91 a barrel, while West Texas Intermediate gained US$1,33, (1,65 percent), to US$81,77 a barrel.
Spot gold was up 0,10 percent to $1 983,77 per ounce while US gold futures gained 0,2 percent to US$1 991,80 on Thursday.
