eBusiness Weekly
Enacy Mapakame
A positive momentum remained on the Zimbabwe Stock Exchange (ZSE) mid week trades driving the market into gains week on week.
Resultantly, four of the benchmark indices closed in the positive territory during the week to Wednesday.
The primary indicator, the ZSE All Share Index, closed the week with a 0,79 percent gain to close settled at 1 516 points. The ZSE Top 10 Index was 1,53 percent above prior week to close at 988 points. At 1 166 points, the ZSE Top 15 Index was 0,78 percent while the Small Cap paced the fastest with a 3,17 percent increase to 6 143 points.
The Medium Cap was the only counter to close in the negative after giving up 0,62 percent to 3 026 points.
Total market value added a billion dollars or 0,6 percent to $191,8 billion reflective of the gains recorded across board.
Brick making firm, Willdale, headlined risers together with Fidelity after each rose by 20 percent to 24 cents and $1,38 respectively.
At 15,7 cents, clothing retailer, Truworths was 19 percent above prior week level. Financial services group, ZB put on 18 percent to $17,78 while hospitality services provider African Sun wrapped the week’s top five risers with a 16,45 percent increase to $1,80. Other significant gains were seen in Powerspeed which put on 16,1 percent to $1,80 while the market’s biggest counter by capitalisation — CBZ jumped 13 percent to $43,91.
Property firm, FMP rose 6 percent to $2,35. The trio of FCB, Masimba and Star Africa rose 5 percent each to settle at 54,88 cents, $2,58 and 18 cents in that order.
On the downside, Proplastics eased 20 percent to $4,76 followed by Nampak which lost 19 percent to 84,25 cents. Hospitality group, RTG eased 11 percent to $2. Resources group, Bindura backtracked 8 percent to $3,65 while peers RioZim wrapped the top five fallers for the week with a 6,6 percent decline to $8,30. Other losses were recorded in Axia, Mashonaland Holdings and Turnall that gave up 6 percent to $3,74, 62,97 cents and 58,41 cents in that order.
The two of Econet, Delta and Zimpapers fell by 5 percent each to close pegged at $4,35, $14,98 and 67,88 cents respectively. Cassava and Dawn lost 2 percent each to $4,23 and 68 cents in that order. A week ago, capital markets regulator -the Securities and Exchange Commission of Zimbabwe (SECZIM) indicated it was investigating the proposed transaction between Dawn and African Sun after concerns were raised the deal could potentially prejudice minority shareholders.
Spirits and wines maker — Afdis remained unchanged at $16,37 while Edgars, GetBucks and Lafarge also maintained prior week levels of $1, 12,5 cents and $6,10 respectively. Natfoods and TSL also remained flat at $50 and $5,35 respectively while ZPI was also flat at 70 cents.
The property firm recorded a 29 percent decline in revenue to $27 million during the first half year to June 30, 2020 compared to same period last year. The firm says it is looking at changing the use of some of its properties in central business districts (CBDs) as the performance of that segment continues to weaken.
