Bulls active again on the Zimbabwe Stock Exchange

A bullish sentiment prevailed on the Zimbabwe Stock Exchange (ZSE) which saw the market overturn prior week losses. Resultantly, all key indicators closed the week to Wednesday pointing northwards on the back of gains led by small caps.

During the week under review, the primary indicator, the ZSE All Share Index closed 5,47 percent above prior week level to close at 5 767 points.

The ZSE Top 10 and ZSE Top 15 both put on 4 percent each to close pegged at 3 147 points and 3573 points respectively.

At 14 892 points, the Medium Cap was 6 percent above prior week’s 14 039 points.

The Small Cap paced the fastest after adding 29 percent of value to 92 220 points.

Total market value rose 5 percent to $672 billion compared to $638 billion in line with gains recorded across board.

GetBucks headlined risers for the week with an 82 percent increase to $6 followed by Star Africa which rose 29 percent to $1,04. At $23,53, Dairiboard was 27 percent ahead of prior week. Hospitality group, African Sun advanced 24 percent to $3,72 from $2,99 at a time tourism prospects are getting brighter. The United Nations World Tourism Organisation (UNWTO) showers prospects for May to August improving slightly while first quarter performance showed the sector slowly picking up across the globe.

Masimba wrapped the week’s top five risers with a 21 percent increase to $35,29.

Other gains were recorded in FMP and Zimplow which rose 20 percent each to settle at $17,95 and $8,16.

The duo of Hippo and financial services group ZBFH put on 17 percent each to close at $154,95 and $70 respectively.

Art and cables manufacturer, Cafca advanced 13 percent each to $8,20 and $$150 respectively.

Most expensive stock- BAT ticked 12 percent $990 as it inches closer to a record $1000 a share.

General Beltings, Meikles, Proplastics and Simbisa all put on 7 percent each to $75,59, $70,16, $27,99 and $$41,18 in that order.

Further gains were offset by losses in resources groups RioZim and Bindura that dropped 14 percent to $25 and 10 percent to $5,09 respectively. The gold mining firm RioZim has filed a lawsuit at the High Court seeking to recover US$202 million from Falcon Resources for chrome ore resources it alleges was stolen during its long drawn out dispute worth the later.

MedTech went down 8 percent to 14,95 cents while the duo of Edgars and NMB both fell 7 percent each to close at $3,10 and $11,23 respectively.

Other losses were seen in Mashonaland Holdings that also gave up 7 percent to $2,77.

Financial services groups FBC, FCB, Fidelity and ZHL eased 3 percent each to settle at $28,08, $3,38, $6,20 and $2,90 in that order.

CBZ remained unchanged at $82. Lafarge was also flat at $55.-ebusinessweekly.cl.zw