Stock Market Weekly Review
A bearish sentiment prevailed on the Zimbabwe Stock Exchange resulting in investors losing a$47 billion in a week.
During the week to Wednesday total market value retreated by 8 percent to $513 billion from $560 billion on the back of losses led by the market’s heavy cap counters. The top 10 stocks by capitalisation account for 62,55 percent of the market’s total value as of Wednesday close of trade.
The ZSE Top 10 Index fell with an 11 percent decline to 2 440 points compared to 2 745 points. The ZSE All Share Index went down 8 percent reflective of the losses recorded across board. Weighing down the market was Padenga which fell 23 percent to $30,14 from $39,60 recorded in the previous week.
Sugar processor Hippo went down 20 percent to $110 while the duo of GB Holdings and Bindura fell 19 percent each to close at 59 cents and $5,25 respectively.
Turnall wrapped up the week’s top five fallers with a 18 percent decline to $3,40.
Other losses were seen in Zimpapers, Nampak and FMP which gave up 17 percent each to settle at $1,10, $8 and $4,50 respectively.
Afdis lost 14 percent of value to close at $42,75 from prior week’s $50 while hospitality group African Sun eased 12 percent to $2,20.
Delta and Econet lost 13 percent each to close at $42,83 and $17,72 in that order. Latest figures from regulator shows the telecoms giant increased its mobile data leadership position after mobile internet and data traffic market share increased by 8,7 percentage points to 78,4 percent. Also on the downside was FBC which decreased by 10 percent to $25 from $28 recorded in the comparable week. Cigarette maker, BAT fell 8 percent to $800 remaining the most expensive stock on the bourse.
Art, Axia, Cassava and brick maker — Willdale went down by 5 percent each to close pegged at $6,60, $15,04, $13,97 and 96,5 cents in that order. However, it was not all doom and gloom as further losses were mitigated by gains in NTS which surged 114 percent to $7,46 followed by Unifreight which rose 36 percent to $15,22. At $132, cables manufacturer, Cafca was 15 percent ahead of prior week. Financial services group, ZBFH advanced 15 percent to close pegged at $45,82. Clothing retailer — Truworths wrapped the week’s top five risers with a 12 percent increase to $1.-ebusinessweekly.co.zw
