Mid Cap counters drive ZSE weekly recovery
The Zimbabwe Stock Exchange (ZSE) All-Share Index closed the week 0,80 percent higher, driven by strong performances in key counters such as BAT, Hippo and Willdale, which surged 31,17 percent, 30,52 percent and 29,62 percent, respectively.
Despite this, the market reflected mixed sentiment as 13 counters ended in the red compared to 11 gainers.
Among the notable losers were Econet, which fell 7,87 percent to ZiGc 340.25, CBZ, down 7,01 percent to ZiGc 1 301.36, and SeedCo, which dipped marginally by 0,59 percent to ZiGc 505.
Total market turnover soared by an impressive 215,49 percent, rising from ZiG 42.43 million to ZiG 133,86 million. The week’s trading activity was predominantly driven by Delta, contributing ZiG 59,67 million, Econet at ZiG 53,42 million and Nampak with ZiG 6.04 million.
On the Exchange Traded Funds (ETF) front, price movements were limited to Cass Saddle Agric, which climbed 14,80 percent to ZiGc 2.87 and Datvest MCS, which slipped 9,89 percent to ZiGc 3.00.
The Victoria Falls Exchange (VFEX) All-Share Index recorded a 0,47 percent decline, falling from 106.98 points to 106.48 points. SeedCo International was the week’s biggest laggard on the VFEX, plummeting 18,81 percent to US 17.05 cents. In contrast, FCB emerged as the top performer, advancing 7,72 percent to US 5.30 cents.
Proplastics released its third quarter trading update, reporting a 10 percent year-on-year decline in revenue to US$14,52 million. Sales volumes dropped 4 percent to 4 800 tones, while production volumes slipped by 5 percent compared to the previous year. Despite these challenges, stable raw material availability supported the company’s ability to fulfill backorders and replenish fast-moving inventory, indicating operational resilience.
Looking ahead, market activity on the ZSE is expected to gain momentum, supported by end-of-month liquidity injections likely to drive increased participation before the festive season. However, trading on the VFEX is anticipated to remain muted.
As Platinum Securities noted, “The subdued activity on the VFEX is attributed to competing demand for USD-denominated assets and low foreign investor participation, which continues to weigh on market sentiment.”-ebsinessweekl
