Stock Market Weekly Review
Food and dairy processor, Dairibord led the week’s fallers with a 14 percent decline.
Losses on Zimbabwe Stock Exchange (ZSE) persisted week on week as heavies weighed on the market. Resultantly, all indicators closed the week to Wednesday 1 September pointing southwards.
The blue chips, the ZSE Top 10 Index fell the most with a 2,2 percent decline to 3 542 points compared to 3 621 recorded in the previous week on weak demand.
The primary indicator, the ZSE All Share Index went down 1,5 percent to 6 588 points while the ZSE Top 15 Index eased 1,8 percent to 4 051 points.
At 16 987 points, the Medium Cap was 0,5 percent below prior week level while the Small Cap was also on the downside with a 1,6 percent decline to 225 581 points although it maintains the highest gains year to date.
Total market value eased 1,5 percent to $785 billion from $798 billion reflective of the losses recorded across board.
Food and dairy processor, Dairibord led the week’s fallers with a 14 percent decline to $34,99 followed by banking group, NMB which went down 12 percent to $14 from prior week’s $16.
At $2,54, media group, Zimpapers also gave up 12 percent of value while FCB was 11 percent weaker to $3,10.
Clothing retailer, Edgars backtracked 10 percent to $3,50 wrapping the week’s top five fallers. Other losses were seen in telecoms giant, Econet which went down 9 percent to $35,36 while sugar processor, Star Africa fell 8 percent to $1,83. Financial services duo of FBC and GetBucks went down 6 percent each to $28 and $8,15 respectively.
Retail giant, OK Zimbabwe fell 5 percent to $15,43 while FML and the market’s biggest counter – Delta were each 3 percent weaker to settle at $23,86 and $83,79 respectively.
Market watchers opine that Delta’s expansion into the region, latest being in South Africa will in the long term lower the beverages giant’s operational risk.
Further losses were offset by gains in in Zeco which rose 100 percent to 0,6 cents after the counter traded and recorded movement for the first time in a year.
Sugar processor, Hippo went up 18 percent to close at $182 from prior week’s $153.
Property firm, FMP added 17 percent of value to close at $13,20 while construction group, Masimba ticked 10 percent to $37.
Brick maker, Willdale rose 8 percent to $3,17 from $2,93 in the previous week. Other gains were seen in TSL which rose 3 percent to $48,88 while cigarette maker, BAT also rose by the same margin to $950 remaining the most expensive stock on the bourse by nominal value.
The duo of Simbisa and SeedCo rose by 2 percent each to $39,84 and $76,99 as the seed processor has expressed readiness for the coming farming season. Hospitality group, African Sun also added 2 percent to $8 from $7,50 recorded in the previous week.
On the resources side, Bindura put on 4 percent to $5 while peers, RioZim remained flat at $28. Also remaining flat during the week was cement maker – Lafarge which closed at $94. Nampak and Natfoods were also unchanged at $13 and $520 respectively.
NTS and Unifreight also maintained prior week levels to close at $10,80 and $30 in that order.-ebusinessweekly.cl.zw
