The Zimbabwe Stock Exchange (ZSE) was weighed down by selling pressure during the first week of the year as demand remained depressed.
This saw all indicators close the week to Wednesday pointing southwards.
The primary indicator, the ZSE All Share Index shed 6 percent to settle at 2 467 points while the ZSE Top 10 Index eased 8 percent to 1 521 points on losses recorded in the market’s heavies. At 1 793 points, the ZSE Top 15 Index was the biggest casualty after letting go of 9 percent of value.
The Medium Cap retreated 1 percent to 5431 points while the Small Cap weakened by 2 percent to settle at 11 609 points.
Total market value went down by 6 percent to $298 billion from $317 billion reflective of the losses recorded across board.
Property firm, Dawn, fell the hardest as it led the week’s casualties with a 39 percent fall to 43,25 cents from 72 cents achieved in the prior week.
Diversified hospitality group, Meikles lost 22 percent to $19,80 while industrial giant, Innscor was 21 percent lower to settle at $29,28.
At $20,20, seed producer, Seed Co fell 19 percent while crocodile breeder, Padebga wrapped up the week’s top five fallers with an 18 percent decline to $18,93.
Other losses were recorded in Simbisa which eased 18 percent to $10,79 while Zimplow backtracked 16 percent to $4,19.
Sugar processor, Hippo decreased by 15 percent to $76,40. Also on the downside was retail group, OK Zimbabwe which lost 13 percent of value to $7,79 while Cassava fell 14 percent to $5,59. The fintech group reported improved performance across businesses during the third quarter to November 2020 on the back of relaxed lockdown restrictions which allowed for increased economic activity. The group is upbeat about maintaining the upward trajectory into the fourth quarter on the back of foreign currency exchange rate and price rate stability.
Further losses were offset by gains in financial services group, ZBFH which advanced 43 percent to $34,55 followed by clothing retailer Truworths which added 38 percent to 40,8 cents.
Cement maker — Lafarge rose 37 percent while the duo of GB Holdings and First Mutual Properties wrapped the week’s top five risers after gaining 20 percent each to closer at 24 cents and $3,24 respectively.
Other gains were recorded in Dairibord, Nampak, NatFoods and Unifreight that rose by 19 percent each to close at $13,10, $2,73, $72,10 and 22,3 cents in that order. NMB rose by 17 percent to $4,70 while TSL put on 15 percent to close at $16,60.
On the resources side, Bindura rose by a marginal 1 percent to $3,80 while RioZim went down 13 percent to settle at $12,91.
Afdis, BAT and Cafca remained flat at $24, $550 and $89,90 respectively.
Also maintaining prior week level was GetBucks, NTS, RTG and Turnall which closed at 12,5 cents, 27,45 cents, $1,91 and 93 in that order. During the same week under review, the Old Mutual exchange-traded fund (ETF), the first-ever such instrument in the country was listed on the ZSE as efforts to expand capital markets continues.