Stock Market Weekly Review

24 Nov, 2023 - 00:11 0 Views
Stock Market Weekly Review The Zimbabwe Stock Exchange

eBusiness Weekly

Malvern Nkomo

The Zimbabwe Stock Exchange (ZSE) closed the week to Wednesday November 22 in the green as the benchmark ZSE All Share Index closed up 0,77 percent during the week under review to 174 546,79 points.

However, the ZSE Top 10 Index lost 1,42 percent during the week to 74 196,51 points from 75 263,16 points recorded last Wednesday.

The ZSE Top 15 Index ended the week down 0,71 percent from 102 911,93 points to 102 180,16 points while Small Caps remained unchanged during the week at its previous level of 5 343 553,69 points.

The market closed with a total market capitalisation of $14,12 trillion, a 1,2 percent improvement from last week’s $13,05 trillion.

The overall market breadth was positive with 22 counters advancing, 11 declining and 14 remaining unchanged at last week’s level.

Moving on to the top performers, GB Holdings recorded the largest gains, up 25,8 percent to close at $20 from $15,90 last week. FML was the second best top performer, recording gains of 18,6 percent during the week to $1 045 67.

Ariston went up by almost the same margin, up 18,5 percent during the week to close at $36,14.

Sugar processor Star Africa also closed positive, up 14,5 percent from $4,24 last week to $4,87.

TSL also made it on the top five performers list, adding 13,5 percent during the week from $1 055 to $1 197.

On the five fallers of the week, Nampak was hit the hardest, down 15 percent to $284,75 followed by Fidelity Life, down 13 percent to $180.

Also on the losing team, CBZ lost $180 (8,57 percent) during the week under review, to $1 920 while beverage manufacturer Delta closed 5 percent weaker from $3 251,17 to $3 087,24.

This, however, comes as Delta highlighted that it experienced an overall strong performance for the six months ended September 30 2023, backed by a strong volume growth across its business units which also positively impacted foreign currency sales for the same period.

BAT also closed in red, down by 3,7 percent to $13 000 during the week under review.

On Exchange Traded Funds (ETFs), a remarkable gain was released by Morgan& Co Multi-Sector compared to other ETFs, up 15,3 percent from $32 958 last week to $37 987.

Datvest MCS ETF recorded marginal gains, up 0,9 percent during the week to $8,07.

On the other hand, Morgan&Co Made in Zim ETF lost 5,4 percent to $6,81 from $7,20 last week while Old Mutual ZSE Top-10 ETF closed 8,2 percent weaker to trade at $32,10.

Cass Saddle Agric ETF remained unchanged during the week at last week’s level of $7,50.

On the Victoria Falls Stock Exchange, largest gains were recorded by Axia adding 48,75 percent during the week to trade at US 7,75 cents followed by Seed Co Intl up 20 percent to US 21 cents from US 17,5 cents.

Other gains were recorded in Bindura, recording a 15,8 percent gain to US 1,32 cents while African Sun added US 0,4 cents (8,7 percent) to US 4,99 cents.

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