Stock Market Weekly Review

04 Jun, 2021 - 00:06 0 Views

eBusiness Weekly

Enacy Mapakame

Bears dominated trades on the Zimbabwe Stock Exchange (ZSE) resulting in the market closing the week below prior week levels.

During the week to Wednesday, four of the benchmark indices closed facing downwards. The primary indicator, the ZSE All Share Index fell 0,23 percent to 5468 points while the ZSE Top 10 eased 0,09 percent to 3 015 points.

The ZSE Top 15 gave up a marginal 0,04 percent to 3 423 points. At 14 039 points, the Medium Cap was 1 percent behind prior week level.

The Small Cap was the only indicator to record gains after adding 14 percent to 70 949 points.

Total market value decreased by 0,38 percent to $638 billion from $641 billion in the comparable week reflective of the losses recorded across board.

Sprits and wines maker, Afdis fell the hardest with a 15 percent decline to $55 from $65 recorded in the previous week.

Art went down 12 percent to $7,24 as the manufacturer and distributor of paper products reported revenue for the second quarter grew 14 percent to $1,7 billion while overall volumes were 15 percent above same period last year.

Retail giant, OK Zimbabwe fell 9 percent to close settled at $17,46 while Proplastics went down 8 percent to $26.

Edgars eased 7 percent to $3,36 wrapping up the week’s top five fallers. The clothing retailer indicated Covid 19 induced lockdowns had a knock on effect on its performance as the group closed its physical shops for seven weeks during the quarter April 11 2021.

Hospitality group, RTG also went down by 7 percent to $2,31 while Padenga eased 5 percent to $30,27. The trio of Masimba, Simbisa and Star Africa lost 2 percent each $28,99, $38,15 and $81,01 in that order.

Further losses were mitigated by gains recorded in GetBucks which put on 49 percent to $3,29 followed by Zimplow which rose 12 percent to $6,80.

Insurance group, FML also rose by 12 percent to $30,33 as the firm recorded a 2 percent growth in gross premium written (GPW) on the back various measures put in place. Rental income also recorded a growth sustained by quarterly rental reviews.

Cigarette maker, BAT put on 10 percent to $880 while hospitality group, African Sun added 9 percent to $2,29 wrapping the week’s top five risers.

Other gains were seen in property firm, FMP which rose 7 percent to close at $14,93. The trio of Ariston, Cafca and Delta advanced 4 percent each to $3, $132 and $63,80 respectively.

Brick making firm, Willdale ticked 2 percent to $1,54 while Fidelity rose 3 percent to $6,40.

On the resources side, Bindura eased 2 percent to $5,70 while peers, RioZim remained flat at $29,40. Truworths also remained unchanged at $1,05 cents as the clothing retailer reported performance for the half year to January 10, 2021 was subdued by effects of Covid 19.

Also maintaining prior week level was Lafarge and Zimpapers at $55 and $1,80 respectively.

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