Stock Market Weekly Review

01 Dec, 2023 - 00:12 0 Views
Stock Market Weekly Review The Zimbabwe Stock Exchange

eBusiness Weekly

Malvern Nkomo

The Zimbabwe Stock Exchange (ZSE) All Share Index closed positive during the week to Wednesday 29 November, up by 8 percent to 188 519,12 points from 174 546,79 points last week.

The ZSE Top 10 Index added 5 905,36 points (7,96 percent) during the week to 74 196,51 points.

Also closing in the positive territory, the ZSE Top 15 Index improved by 6,7 percent, adding 6 840,18 points during the week to settle at 109 020,34 points.

However, Small cap ended the week 0,5 percent weaker at 5 316 568 points from 5 343 534 points last week.

The market closed with a total market capitalisation of $15,03 trillion a 6,5 percent improvement from last week’s $14,12 trillion. While the overall market breadth remained positive with the market recording 19 advances, 5 declines while 23 counters remained unchanged at their last week’s level.

The top performers for the week were led by seed manufacturer Seed Co, up 32,66 percent at $969,81 from $731,05 while other gains were also seen in Edgars which closed at $110 from $85 last week.

Meikles added $251 (22,9 percent) during the week under review to $1 346 while FBC gained 17,4 percent to trade at $1 010 from $860 last week.

The positive market performance is also attributable to gains made in First Mutual Properties also closed positive up by 15,18 percent during the week to $210.

However, further gains were weighed by losses in TSL which recorded the largest losses during the week, down 8,1 percent to trade at $1 100 from $1 197.

ZBFH also closed in the red, down 3,41 percent during the week to $850 from $880.

Also in the negative territory, starafrica closed down 0,61 percent during the week to trade at $4,84 while First Mutual Life closed 0,14 percent weaker to close at $1 044,23 from $1 045,67 last week.

Masimba however lost by a marginal 0,01 percent from $810,10 the previous week to $810.

On Exchange Traded Funds (ETFs) Datvest MCS ETF recorded the largest gains, up 11,47 percent to $9 followed by Morgan&Co Made in Zim which recorded gains of 11 percent from $6,81 to $7,56 during the week.

Morgan&Co Multi-Sector also closed positive, up 10,56 percent to $419,98 from $379,87.

On the other hand Old Mutual ZSE Top-10 ETF closed in the negative territory, down 0,46 percent from $32,10 the previous week to $ 31,95.

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