Stock Market Weekly Review

BULLISH sentiment continued to prevail on the Zimbabwe Stock Exchange (ZSE) which saw all the benchmark indices close pointing northwards. During the week to Wednesday, the primary indicator, the ZSE All Share Index put on 8,98 percent to close at 2 072 points from 1 901 points in the comparable week.

The ZSE Top 10 index jumped 8,7 percent to 1336 points while the ZSE Top 15 Index jumped 7 percent to settle at 1 561 points.

The Medium Cap paced the fastest with a 9,5 percent jump to close the week at 4 171 points. At 10 184 points, the Small Cap was 7,1 percent above prior week level as it also remains the biggest gainer on a year to date basis with a 1 509 percent increase.

Total market value for the week jumped 8,7 percent to $250 billion from $230 billion recorded in the previous week.

Sugar producer, Hippo headlined risers for the week after gaining 84 percent to $60 followed by TSL which put on 54 percent to $8,54.

Property firm Mashonaland Holdings rose by 39 percent to 89,5 cents while insurance firm, FML was 38 percent firmer to $6,60. The biggest counter by market value, CBZ wrapped up the week’s top five risers with a 23 percent gain to $54,38.

Other significant gains were recorded in Art which rose 21 percent to $4,25 while NTS was 19 percent above prior week to settle at 27,45 cents.

Diversified crocodile breeder Padenga ticked 20 percent to $19,94 as market watchers remain upbeat its latest mining acquisition will boost earnings and offset depressed performance in the crocodile skins business. Clothing retailer Truworths jumped 15 percent to 18,05 cents.