Stock Market Weekly Review

07 Jan, 2022 - 00:01 0 Views
Stock Market Weekly Review Morgan and Co

eBusiness Weekly

Enacy Mapakame 

The equities market maintained a growth trajectory during the first week of the year, which also saw a new listing – Morgan and Co Multi-Sector Exchange Traded Fund (ETF) debut on the Zimbabwe Stock Exchange (ZSE).

An ETF is a basket of securities that can be bought or sold on a stock exchange the same way a regular stock can and can be passive (tracking an index) or actively managed as is the case with the new listing.

Morgan and Co ETF, which was launched on January 03, becomes the second ETF after the Old Mutual Top 10 ETF last year and prospects are bright for the introduction of more new listings and products on the capital markets.

During the week to Wednesday all benchmark indicators closed in the positive.

The primary indicator, the ZSE All Share Index put on 2,8 percent to close at 10 901 points from 10 604 points recorded in the previous week. The blue chips, the ZSE Top 10 Index advanced 3 percent to 6 850 points while the ZSE Top 15 Index rose by the same margin to close settled at 7 595 points.

At 20 710 points, the Medium Cap was 2,5 percent above comparable week while the Small Cap put on 4 percent to close the week at 410 821 points.

Total market value rose 2 percent to $1,3 trillion in line with gains recorded across board.

Brick making firm, Willdale, paced the fastest during the week with a 23,2 percent increase to close at $3,69 while Axia followed with a 23 percent increase to settle at $37.

Dairy and food processor, Dairibord added 20 percent to $38,75 compared to $32,02 recorded in the previous week.

At $4,87, clothing retailer, Edgars was 18 percent firmer while FBC wrapped the top five risers with a 16 percent increase to $33,98.

Other gains were recorded in Cassava which rose 13 percent to $44,90 from $39,61 in the previous week.

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