Stocks recovered in the last week of year 2021 led by blue chips, helping reverse losses from the previous week.
During the week to Wednesday, all indicators closed in the positive with the primary indicator the ZSE All Share Index closing 8 percent above prior week level to settle at 10 604 points.
The blue chips, the ZSE Top 10 Index put on 10,7 percent to 6 646 points while the ZSE Top 15 Index rose 10,3 percent to 7 339 points as the market’s heavy caps led gains.
The Medium Cap rose 4 percent to 20 203 points compared to 19 288 points recorded in the comparable week. At 392 689 points, the Small Cap was 2 percent ahead of previous week.
Total market value rose 8 percent to $1,29 trillion from $1,19 trillion reflective of the gains recorded across the board.
Diversified insurance group, Fidelity, headlined the week’s risers with a 34,8 percent increase to $14,83 followed by retail giant, OK Zimbabwe which put on 34,3 percent to $28,15.
Beverages maker, Delta, jumped 21 percent to close at $161,69 while Nampak put on 18 percent to settle at $11,72.
Econet, wrapped the week’s top five risers with a 16 percent increase to $85,06 as it remains the top capitalised stock with a total market value of $220 billion, ahead of Delta and Cassava that are worth $210 billion and $102 billion respectively.
Mashonaland Holdings also rose by 16 percent to $3,20 while ART put on 13 percent to $10,21.
Axia rose by 11 percent to $30,07 while the duo of CFI and Innscor put on 3 percent each to $90 and $160,33 respectively.
Seed producer, Seed Co Limited rose by a marginal 1 percent to $101,08 after reporting revenue for the half year to September 30, 2021 jumped 43 percent to $2,1 billion compared to the same period in the prior year.
The group recorded a loss for the period of $1,9 billion from a profit position of $3,1 billion.
Further gains were offset by losses recorded during the week. MedTech was the biggest casualty backtracking by 30 percent to $36 from $52 in the previous week. Clothing retailer, Edgars gave up 11 percent to close the week at $4,10. Insurance giant, FML went down 9 percent to $19,98 while banking firm, NMB eased 8 percent to $10,01.
Peers, FBC wrapped the week’s top five fallers with a 6 percent decline to $29,05. Other losses were seen in Zimplow which fell 4 percent to $23,04 while media group Zimpapers declined 3 percent to $2,90.
African Sun retreated 1 percent to $6,49 while TSL gave up a marginal 0,07 percent to $74,95 cents, completing the week’s fallers.
On the resources side, the only active mining firm, RioZim rose by 2,5 percent to $40. Overall, the country’s mining industry is upbeat about maintaining profitability momentum going into 2022, although the trajectory can be lower than this year’s levels.
The mining industry is one of the major economic mainstays to anchor the country towards an upper middle-income society by 2030.
Maintaining prior week levels were BAT, CAFCA and Natfoods that were pegged at $2 668, 23, $170 and $1 350 respectively.
The OM Top 10 ETF closed Wednesday trade at $4,41.
During the week, Morgan & Co Limited indicated it is set to introduce a multi-sector exchange traded fund (ETF), which will
be listed on the bourse by way of introduction on January 03, 2022 following approvals
from the ZSE for the listing of the multi-sector ETF.
On the VFEX, Padenga, Seed Co International and Caledonia closed at US21 cents, US28 cents, US$13 and US5,5 cents in that order.