Stock Market Weekly Review

Equities on the Zimbabwe Stock Exchange (ZSE) entered into recovery mode in the past week spurred by firming demand in selected heavy weight counters.

This saw total market value for the week to Wednesday increase by $30 billion or 6 percent to $515 billion.

The primary indicator, the ZSE All Share Index rose 6 percent to settle at 4,414 points on gains recorded across board.

Market heavies, the ZSE Top 10 Index, recorded highest gains of 7,52 percent to 2,538 points.

At 2,899 points, the ZSE Top 15 Index was 7,2 percent above prior week’s 2,704 points.

The Medium Cap advanced 4,6 percent to close at 10,671 points.

On the downside was the Small Cap which gave away 5,7 percent to 44,152 points although it remains the biggest gainer on a year to date basis after rising by 270 percent.

Nampak headlined risers for the week after adding 38,9 percent of value to close at $12,50 followed by Dairibord which put on 38,3 percent to $15,01.

At $54,29, Meikles was 29 percent above prior week after the diversified hospitality group announced intentions to unbundle its agriculture segment – Tanganda Tea Company, and pursue a separate listing. Tanganda will return to the local bourse after a 14 year break.

Banking group, CBZ rose 27 percent to $94,68 while crocodile breeder, Padenga wrapped the week’s top gainers with a 20 percent increase to $30.

Other gains were recorded in sugar processor, Star Africa which rose by 19 percent to 62,76 cents.

The duo of Edgars and Ariston rose by 15 percent each to $2,91 and $1,85 in that order.

Insurance group, FML advanced 11 percent to $21,78 while diversified industrial giant, Innscor rose 10 percent to $64,99.

Spirits and wines maker, Afdis also put on 10 percent of value to $46 while the market’s biggest counter by capitalization, Delta rose by 4 percent to $42,78.

On the downside, nickel producer, Bindura went down 19 percent to $4,02 while General Beltings eased 12 percent to 60 cents.

Banking group, NMB backtracked 11 percent to settle at $10,89 while the duo of Unifreight and BAT gave up 10 percent each to close at $12,50 and $715 respectively.

Other losses were recorded in NTS which eased 10 percent to $9 compared to $10 in the previous week. Financial services group, ZBFH went down 7 percent to close at $35 while Turnall lost 6 percent of value to close at $2,82.

At $1,81, property firm, Mashonaland Holdings was 4 percent below prior week while Axis was also on the downside with a 5 percent decline to $15,58.

Hospitality group, African Sun eased 1 percent to $2,26 from $2,30 recorded in the prior week after reporting depressed performance for the year to December 2020 due to low demand for travel, tourism and hospitality services as a result of Covid 19.

Cables manufacturer, Cafca remained flat at $120 while FMP, GetBucks and Lafarge were also flat at $5, 40 cents and ,$50 in that order.

Also maintaining prior week levels were industrial giant, Natfoods at $316;, RTG at $2,10; Simbisa at $29,99 and TSL at $43.-ebusinessweekly.cl.zw