Stock Market Weekly Review

12 Jan, 2024 - 00:01 0 Views

eBusiness Weekly

Malvern Nkomo

The Zimbabwe Stock Exchange (ZSE) All Share Index extended its gains during the second week of the year to Wednesday January 10, 2023, up 17,6 percent , from 223 005 points to 262 251 points.

Likewise, the ZSE Top 10 Index also registered gains during the week, up 21,8 percent from 96 451 points to 117 474 points.

It was also the same story for the ZSE Top 15 Index, adding 26 394,76 points from 130 415,57 points last week to 156 810,33 during the week under review.

However, Small Caps lost 888,17 points during the week to close negative, down by a marginal 0,02 percent from 5 483 703,77 points last week to 5 482 815,60.

In line with the recorded gains, the market Cap closed at $21,10 trillion, a 18,42 percent improvement from $17,81 trillion recorded last week.

In terms of the overall market breadth, most counters closed positive during the week with the market recording 24 advances, 5 declines while 18 counters remained unchanged at last week’s level.

Edgars was the standout performer, up by an impressive 52 percent from $100 last week to $152.

The retail clothing giant on Monday, announced the appointment of Chesternoel Mutevhe as the group’s chief finance officer with effect from January 1, 2024.

The newly appointed Edgars’ chief brings a wealth of experience, having been part of CFI Holdings for 7 years.

GB Holdings also closed in the positive territory, up 48,17 percent from $24 to $35,56.

Also closing positive was NTS, up 41,7 percent to $70 while seed manufacturing giant Seed Co added $332,50 during the week to close at $1 322.

Telecommunications company, Econet, added $292,53 or 32,25 percent during the week under review from $907,01 to $1 199,55 wrapping up the top five performers list for the week.

On the down side, BFCB led the top losers for the week, down by 10,85 percent from $33,65 to 30.

DZLH also closed in the negative territory down 7,28 percent or $44,10 during the week from $606 to $561,90 while Mashonaland Holdings closed 2,91 percent weaker to settle at $155,35.

BAT shed off 0,76 percent during the week to settle at $13 000.

ZHL took the last spot on the top five losers this week down by a marginal 0,14 percent from $174,95 to $174,70.

On Exchange Traded Funds (ETFs) Datvest MCS ETF stood out from the rest, up by 18,10 percent during the week to $11,81 followed by Old Mutual ZSE Top-10 ETF up by 5,91 percent to trade at $43,00.

Cass Saddle Agric ETF and Morgan&Co Multi-Sector closed negative, down 6,49 percent and 0,01 percent respectively, to $5,56 and $514,95.

Morgan&Co Made in Zim remained unchanged at last week’s level of $9,50.

On the United States dollar market, the Victoria Falls Stock Exchange (VFEX), no gains were recorded during the week.

Meanwhile, FCB recorded a 14,72 percent decline from US2,31 cents to US 1,97 cents.

Seed Co Intl also closed red, down 9,69 percent to US27,95 cents from US30,95 cents last week.

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