Stock Market Weekly Review

25 Jun, 2021 - 00:06 0 Views
Stock Market Weekly Review

eBusiness Weekly

Enacy Mapakame

Equities on the Zimbabwe Stock Exchange (ZSE) traded mixed during the week which saw three of the benchmark indices close in the negative.

During the week to Wednesday, the primary indicator the ZSE All Share Index was 1 percent weaker to close at 5 970 points weighed down by losses in the market’s heavies.

The ZSE Top 10 fell the hardest with a 3 percent decline to 3 165 points as the big caps succumbed to losses on waning demand.

At 3 722 points, the ZSE Top 15 Index was 2 percent below prior week level.

The Medium Cap closed 2 percent higher to settle at 16 024 points while the Small Cap paced the fastest with a 17 percent surge to 134 120 points.

Total market value came in 1 percent higher to $719 billion compared to $706 billion recorded in the previous week.

General Beltings led risers for the week with a 147 percent surge to $3,19 followed by hospitality group RTG which added 69 percent to $4,12.

Brick making firm, Willdale put on 35 percent to close the week at $2,50 while financial services group GetBucks went up 21 percent to $9,56.

Dairibord wrapped up the week’s top five risers with a 15 percent increase to $27,47.

Other gains were recorded in Padenga which put on 11 percent to $29,39. The trio of MedTech, starafrica and Truworths put on 8 percent each to close at 17,87 cents, $1,40 and $1,34 in that order. Natfoods rose by 4 percent to $398,44.

Resources group, Bindura rose by 4 percent to $5,01 as it reported an increase in Trojan Mine lifespan with major shareholder declaring a US$5,2 million dividend.

On the downside, sugar producer — Hippo led the laggards with a 17 percent decline to $139,92 while Ariston followed with a 13 percent decrease to $3,09.

At $7,25, Art was 11 percent below prior week while diversified resources group RioZim fell by the same margin to $26,10.

Cassava wrapped the week’s top five fallers with a 9 percent decrease to $14,96.

Other losses were seen in Lafarge which have up 7 percent to $60 while retail giant, OK Zimbabwe retreated by 5 percent to close at $15,85.

Econet, NMB, Proplastics and Zimplow fell by 3 percent each to close at $27,22, $11,55, $27 and $8,63 in that order.

During the week, seed manufacturer, Seed Co Limited relisted on the bourse after the group shelved plans to merge with Seed Co International which is currently taking on the Victoria Falls Exchange (VFEX). The seed processor opened at $21,60, but firming demand saw it close at an average price of $65,80.

During the week, TSL and ZBFH remained flat at $40 and $77 respectively.

Also maintaining prior week level, Afdis closed at $70.

The spirits and wines maker announced it is now a subsidiary of Delta after the beverages giant acquired a controlling stake. The group indicated overall volumes rose 34 percent during the nine months to March 31, 2021 driven by growth in spirits and ready to drink segments.

Share This:

Sponsored Links