Stock Market Weekly Review

26 Feb, 2021 - 00:02 0 Views
Stock Market Weekly Review

eBusiness Weekly

Enacy Mapakame

Firm demand helped the Zimbabwe Stock Exchange (ZSE) swung back to the black resulting on all key indices closing the week pointing northwards.

The primary indicator, the ZSE All Share Index, put on 2,88 percent of value to close at 4 075 points compared to 3 961 points recorded in the previous week.

The ZSE Top 10 Index moved up by 0,93 percent to seller at 2 432 points while the ZSE Top 15 Index advanced by 1,42 percent to 2 804 points.

At 9 470 points, the Medium Cap was 6 percent above proof week while the Small Cap paced the fastest with a 7 percent jump to close at 23 658 points also remaining the biggest gainer on a year-to-date basis.

Total market value added 2,5 percent to $491 billion from $479 billion recorded in the previous week.

Unifreight and NTS headlined risers for the week after gaining 72 percent each to $5,52 and 81,5 cents respectively.

National Foods rose 43 percent to settle at $266,10 while General Beltings rose 41 percent to 29 cents.

Mashonaland Holdings wrapped up the week’s top five risers with a 39 percent increase to $1,35.

Other gains were seen in sugar processor — Hippo which rose 26 percent to $120 while Masumba put on 24 percent to $19. Cement maker, Lafarge was also on the upside with a 20 percent gain to $27,60. Clothing retailer, Edgars inched 7 percent to $3,50 and reported business for fourth quarter to January 10 2021 improved compared to the previous quarter driven by increased liquidity during the festive season.

On the resources side, bother the active mining counters – Bindura and RioZim recorded gains of 24 percent to $6 and 1 percent to $20.

Further gains were offset by losses in Zimpapers and Seed Co which eased 10 percent each to $1 and $21,60. Fintech group, Cassava let go of 9 percent to send at $10. Financial services group, CBZ lost 8 percent to $83,07 sliding to the market’s second largest counter with total capitalization of $57,09 billion after Delta which is valued at $57,69 billion.

Telecom giant, Econet backtracked by 7 percent to $17 wrapping up the week’s top five laggards.

Other losses were recorded in clothing retailer, Truworths which slowed 6 percent to 70 cents while the duo of Art and Axia lost 5 percent each to $6,56 and $16 respectively.

TSL went down 4 percent to $43 while diversified insurance group FML eased 3 percent to $14,55.

Dawn remained unchanged at 40 cents. Also maintaining prior week levels were GetBucks, Proplastics, RTG and ZB which closed at 31,05 cents, $24, $1,59 and $40 in that order.

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