Delta, Econet in focus as dividend payouts and earnings set market tone

Trading on Zimbabwe’s equities market exhibited mixed sentiments on Monday, with notable movements on both the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX).

Market players grappled with sectoral performance disparities, highlighting investor caution amidst a transitioning economic environment.

The ZSE All Share Index experienced a slight dip, easing 0,77 percent to close at 263.05 points. The decline was largely influenced by losses in major counters, including Econet Wireless Zimbabwe Limited, which shed ZiG 21.5168c to close at ZiG 330.6671c.

Other laggards included SeedCo Limited down ZiG 21.1198c to ZiG 478.8302c and Delta Corporation Limited, which fell ZiG 5.5753c to ZiG 1885.1505c. Despite these setbacks, CFI Holdings Limited emerged as a key gainer, rallying by ZiG 62.75c to ZiG 481.20c, supported by investor optimism over its strategic initiatives.

Overall, liquidity on the ZSE remained stable, with a turnover of ZiG 3,97 million recorded for the day.

This reflects a slight contraction compared to last Friday’s turnover of ZiG 4,43 million, signalling cautious trading behaviour.

On the VFEX, the All Share Index edged up marginally by 2,18 percent, closing at 99.96 points. Market capitalisation on the VFEX also saw an uptick, rising by 4,99 percent to US$1,23 billion, underscoring growing investor confidence in this forex-denominated bourse.

The day’s risers were led by Axia, which gained 0,77 percent, while African Sun was the leading laggard, declining by 16,40 percent to US$0.03.

In corporate news, Econet Wireless Zimbabwe released its half-year 2025 results, reporting a 7 percent rise in revenue to ZiG 5 billion, buoyed by robust growth in data and voice usage, which expanded by 56 percent and 36 percent, respectively. The company’s profit after tax surged 27 percent to ZiG 347 million, reinforcing its position as a market leader.

Looking ahead, investor focus will shift to upcoming corporate actions, including dividend payments by Delta Corporation on December 10 and Afdis on December 6. Annual General Meetings scheduled for RioZim and National Foods later in December are also expected to provide market catalysts.

With a BUY/HOLD recommendation prevailing for key stocks such as Delta, Simbisa and Innscor, analysts suggest a balanced approach to navigating the market amid evolving dynamics.-ebinsweekl