Stock Market Weekly Review

19 Jan, 2024 - 00:01 0 Views
Stock Market Weekly Review The Zimbabwe Stock Exchange

eBusiness Weekly

Malvern Nkomo

THE Zimbabwe Stock Exchange (ZSE) primary indicator, ZSE All Share Index continues to show great resilience as evidenced by its positive performance for three consecutive weeks since the beginning of 2024.

The All Share Index added 40 537,28 points, during the week to Wednesday January 17, a 15,46 percent improvement from 262 251,14 points last week to 302 788,42 points.

The ZSE Top 10 Index added 19 451,41 points which translates to 16,56 percent during the week from 117 474,07 points last week to 136 925,48 points.

ZSE Top 15 Index also closed positive during the week, up 16,97 percent to 183 424,16 points.

Small Cap recovered from last week’s slight decline of 0,02 percent and managed to close the week in the green, up by 7,62 percent to 5 900 655,38 points from 5 482 815,60 points.

In line with the recorded gains during the week, the market capitalisation jumped 15,49 percent to $24,36 trillion from $21,09 trillion last week taking the year to date gains to 54,5 percent.

The overall market breadth for this week was positive with 24 advances, 5 declines and 18 counters remaining unchanged at last week’s level.

Moving to the top performers, Meikles recorded the largest gains, up by 52,89 percent from $1 730 to $2 645 followed by Masimba up 50,62 percent to trade at $1 220.

Financial service provider CBZ, tanked $1 114,29 (27,86 percent) during the week under review to trade at $5 114,29 from a previous $4 000.

Delta and DZLH rose by almost the same margin, up by 25,77 percent and 25,48 percent respectively, to trade at $6 293,50 and $705,10 in that order.

However, further gains during the week were slowed down by declines in FML, shedding 21,74 percent from $1 150 to $900 followed by Turnall which lost $3,95 or 9,88 percent from $40 to 36,05.

TSL also closed at $1 100, a 8,33 percent decline from last week’s price of $1 200.

Star Africa tumbled 2,61 percent during the week from $9,68 last week to $9,43.

ZHL wrapped up the top five losers list, closing 0,52 percent weaker at $173,80 from $174,70 last week.

On Exchange Traded Funds Cass Saddle Agric ETF and Old Mutual ZSE Top-10 ETF rose by the same margin of 13,84 percent during the week to $6,33 and $48,95 respectively.

Datvest MCS ETF also closed positive, up 8,17 percent from $11,81 to $12,78 percent.

However, Morgan&Co Multi-Sector closed in the red, down by a marginal 0,18 percent from $514,95 to $514 during the week.

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) most stocks did not perform very well during the week with only 1 counter closing positive.

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