eBusiness Weekly
Malvern Nkomo
The Zimbabwe Stock Exchange All Share Index rose 11,41 percent the first week to Wednesday January 3, 2024 from 200 163 points last week to 223 005 points.
The ZSE Top 10 Index also closed positive, adding 12494,92 points during the week while the ZSE Top 15 Index advanced 16 049,64 or 14,03 percent to 130 415,57 points.
The Small Cap Index remained unchanged at last weeks level of 5 483 703 points.
Overall, the market breadth was positive with 20 advances, 6 declines and 21 counters remaining unchanged at last week’s price.
The top five gainers for the week were led by Cafca, up 32,2 percent from $3 345 to $4 422,45 followed by Fidelity Life, up 31,9 percent during the week to settle at $310.
starafrica also advanced 31,4 percent during the week under review from $6,10 last week to $8,01.
The duo of EcoCash Holdings and Econet closed the week in the positive territory, adding $48,20 and $189,46 respectively, to trade at $202,15 and $907,02 in that order.
Losers were led by Turnall down 8,92 percent from $40 to $36,43 followed by ZHL down 5,13 percent during the week to trade at $174,95.
Brick manufacturer, Willdale also closed in the red, down 3,81 percent from $41,44 last week to $39,86.
The brick manufacturer recently said in its financial statements for the year ended September 30 2023, it is currently exploring various options to enhance its plant capacity in the short term, leveraging on its existing assets to source appropriate funding.
Willdale also said it is still negotiating for the disposal of certain idle assets to raise funds for capital expenditures.
Seed Co ended the week 2,29 percent weaker at $990, a decline of about $23,25 from $1013,25 last week.
DZLH also closed in the negative territory, down by a marginal 0,15 percent during the week to settle at $606.
On Exchange Traded Funds Datvest MCS ETF was the standout performer up by 19,22 percent from $8,39 to $10.
Cass Saddle Agric ETF and Morgan&Co Made in Zim also managed to post gains for the week rising by almost the same margin, up 5,80 percent to $5,95 and 5,56 percent to $9,50 respectively.
Morgan&Co Multi-Sector however, closed negative down 8,04 percent to trade at $515. Old Mutual ZSE Top-10 ETF also closed red, down 1,73 percent from $41,32 to $40,60.
On the United States Dollar bourse, the Victoria Falls Stock Exchange (VFEX) largest gains for the week were posted by Axia, up 28,9 percent from US7 cents to US9,02 cents followed by FCB up 21,6 percent from US1,9 cents to US2,31 cents.
Innscor and Natfoods also managed to post gains during the week, up 4,49 percent to US45,93 cents and 2,28 percent to US123,25 cents. However Padenga was the only counter to close in the red, closing 11,28 percent weaker from US18 cents to US15,97 cents.
