Stock Market Weekly Review

BULLS returned to the equities market seeing the Zimbabwe Stock Exchange (ZSE) all benchmark indices registering gains led by the market’s top cap counters.

During the week to Wednesday, the ZSE Top 10 Index paced the fastest with a 11 percent increase to 3 477 points followed by the ZSE Top 15 Index which rose 8 percent to 3 964 points.

The primary indicator, the ZSE All Share Index ticked 6 percent to close at 6 488 points. At 16 755 points, the Medium Cap rose by a marginal 0,58 percent while the Small Cap put on 7 percent to 233 363 points with year to date gains of 1 858 percent, the highest of the indices.

Total market value rose 4 percent to $765 billion from $733 billion in the prior week, reflective of the gains recorded across board.

Seed processor, Seed Co, headlined risers for the week with a 32 percent jump to $$65,52 while agriculture and mining implements firm, Zimplow rose by the same margin to $15,05.

Fast food giant, Simbisa advanced 24 percent to $43,46. Retail giant, OK Zimbabwe added 23 percent to $18,55 from $14,99.

Beverages maker and largest stock by market value, Delta wrapped the week’s top five risers with a 21 perfect increase to $83,26.

In an update for the quarter to June 2021, Delta indicated significant volume growth in major segments on the back of improved economic activity. Lager beer volumes for the quarter rose by 139 percent compared to same period in the prior year while sorghum beer volume grew by 106 percent.