eBusiness Weekly
Enacy Mapakame
A positive sentiment returned on the Zimbabwe Stock Exchange (ZSE) to see the market close in the black, led by the biggest counter on the bourse, CBZ.
This saw three of the benchmark indices close pointing northwards during the week to Wednesday. The primary indicator, the ZSE All Share Index gained by 2 percent to close at 1 496 points on gains recorded across board. The market heavies, the ZSE Top 10 paced the fastest with a 4,69 percent gain to close at 966 points while the ZSE Top 15 rose by 4,14 percent to 1 151 points.
At 3 038 points, the Medium Cap Index was 1,37 percent below prior week level.
The Small Cap Index weakened by 0,74 percent to 6 089 points from 6 134 points.
Total market value rose by 1,55 percent to $180 billion from $178 billion as bulls dominated trades. Headlining risers for the week was biggest counter by market value- CBZ which put on 24 percent to $44,45 followed by General Beltings which put on 13 percent to 17 cents.
Clothing retailer, Truworths gained by 10 percent to 16,97 cents from 15,41 cents recorded last week.
Resources group, Bindura, put on 5 percent to close at $3,80 while Axia wrapped up the week’s top five risers with a 4 percent gain to $3,94.
Other gains were recorded in banking group First Capital Bank which rose by 4 percent to 52,04 cents while seed producer, Seed Co put on 3 percent to $17. The duo of Innscor and Hippo rose by 2 percent each to $19,53 and $14,02 respectively. Masimba and Meikles increased by 1 percent each to $2,60 and $15,36 in that order while Simbisa marginally rose by 0,72 percent to $6,22.
Further gains were offset by declines in property firm, Mashonaland Holdings which eased 15 percent to 50,5 cents. Resources group, RioZim fell 12 percent to $8,50. Food and dairy products processor, Dairibord went down 11 percent to $8 compared to $9 recorded last week. At $16,50, financial services group, ZBFH was 7 percent weaker than prior week’s $17,89.
Crocodile breeder, Padenga declined 6 percent to $13,07 as the group announced further delays to release its financial results in order to consolidate figures from its recent acquisition, Dallaglio. The results will now be released by end of this month.
The trio of Edgars, First Mutual Property and Nampak also lost 6 percent each to 90 cents, $2,19 and 74,75 cents in that order. Banking firm, NMB lost 5 percent of value to close settled at $2,84 while brick maker, Willdale weakened by 4 percent to 24 cents.
The duo of Ariston and African Sun lost 3 percent each to $1,30 and $1,56 respectively.
Heavy caps, Delta and Econet backtracked 1,64 percent to $14,75 and 0,4 percent to $3,99 respectively after the telecoms giant reported a $1 billion loss for the year to February 2020 on the back of foreign exchange losses. Econet indicated that the group’s exposure in foreign currency denominated obligations resulted in exchange losses of $6,1 billion.
Cigarette manufacturer- BAT was also on the decline falling by 0,66 percent to $217,54 as it remains the market’s most expensive stock. BAT said sales volumes for the nine months to September 30, 2020 went down 8 percent compared to same period last year due to the challenging business environment together with the adverse effects of Covid-19.
Afdis remained flat at $17, while Fidelity, GetBucks and Lafarge also remained unchanged at $1,45, 12,5 cents and $6,10 respectively.
Maintaining prior week levels were Star Africa, Turnall and Zimpapers who were pegged at 19 cents, 57 cents and 68 cents in that order.
