eBusiness Weekly
The Zimbabwe Stock Exchange once again recorded strong gains for the week to Wednesday, February 3, 2020.
At the close of trading on Wednesday, the ZSE’s market capitalisation was up 4,62 percent to $452,7 billion.
The All Share Index closed the period up 4,89 percent to 3 755,24 while the ZSE Top 10 Index was the best performing index up 7,05 percent to 2 374,05. The All Share Index is now up 42,44 percent year-to-date while the Medium Cap Index is the best performer up 44,19 percent.
The least performer was the medium cap index up just 0,71 percent to 7 917,61.
The positive trend was underpinned by heavily capitalised stocks with Delta putting on a weekly gain of 22,2 percent to $40,44. Investors must be cheering its recent set of results which showed continued growth in its volumes for lager and soft drinks. Volumes for lager beer segment grew 48 percent for the three months to December 2020 while Sparkling beverages volumes grew by 66 percent.
Innscor was also a strong performer up 31,84 percent to $52,89.
FBC Holdings was, however, the biggest heavy weight performer up 38,89 percent to $25. The counter was also the week’s second best performer.
Unifreight, however, topped the risers with a massive 106,49 percent gain. The counter was one of last year’s least performers after it gained just 106.7 percent.
Ariston came third up 38,33 percent at $1,87 in the wake of its latest results, almost doubled its revenue for three months to December 2020, largely due to sharp increase in sales across major products.
Its turnover was up 98 percent. Tea volumes rose 941 tonnes from 821 tonnes due to favourable climatic conditions while a wetter season resulted in 65 percent jump in banana production.
The market was, however, not short of fallers with Dawn Properties being the biggest loser down 21,21 percent to 43,34 cents. Dawn will soon be delisted following the acquisition of the majority stake by fellow listed entity African Sun. Roughly 8 percent of the shares are still held by minorities.
First Mutual and Willdale were also among the losers down 19,5 percent and 19,47 percent respectively.
