Stock Market Weekly Review

28 May, 2021 - 00:05 0 Views
Stock Market Weekly Review ZSE

eBusiness Weekly

Enacy Mapakame

Stocks traded mixed last week which saw three of the benchmark indices on the Zimbabwe Stock Exchange (ZSE) close in the positive. During the week to Wednesday, the primary indicator, the ZSE All Share Index rose marginally by 0,18 percent to settle at 5 481 points while the Medium Cap put on 4 percent to close at 14 181 points. The Small Cap paced the fastest with a 12 percent increase to 16 217 points.

The market’s big cap counters, the ZSE Top 10 Index weighed the market with a 3 percent decline to 3 017 points. At 3 425, the ZSE Top 15 Index was 2 percent weaker compared to the previous week.

Total market value rose by a marginal 0,18 percent to $641 billion, reflective of the mixed trading seen during the week under review.

GetBucks headlined risers for the week with a 76 percent increase to $2,20 from $1,24 recorded in the previous week. Property firm, FMP advanced 65 percent to $13,95 while Masimba rose 51 percent to $29,73.

Diversified resources group, RioZim put on 19 percent to $29,40. At $59,42, ZBFH wrapped the week’s top five risers with an 18 percent increase, ahead of prior week level.

The duo of Ariston and Cafca rose by 14 percent each to $2,86 and $126 respectively.

TSL rose 10 percent to $44 while the trio of Afdis, FML and RTG rose by 8 percent to $65, $27 and $2,49 in that order.

On the downside, Zimplow gave up 12,7 percent to close at $6,02 while sugar processor – Star Africa was also down by 12,3 to $83,23.

Cigarette maker, BAT eased 11 percent to $800 although it remained the market’s most expensive counter.

Property firm, Mashonaland Holdings eased 10 percent to $310,71 while diversified hospitality group, Meikles backtracked 8,9 percent to $68,32 compared to $75 recorded in the previous week.

Other losses were seen in ZHL which gave away 8,4 percent to close at $300.

The trio of Cassava, Delta and Dairibord all went down by 5 percent each to $15,93, $60,80 and $17,95 respectively. Clothing retailer, Edgars eased by a marginal 0,45 percent as the group indicated the Covid 19 pandemic weighed on its earnings during the quarter to March 31, 2021.

NTS remained flat at $10,20 while Unifreight was also flat at $13.

Zimpapers was also unchanged at $1,80 as the group indicated adoption of digitalisation strategy has helped enhanced revenue growth despite the Covid 19 induced challenges.

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