Stock Market Weekly Review

INVESTORS on the Zimbabwe Stock Exchange (ZSE) gained a cumulative $100 billion during the week as the market continued to strengthen. Blue chips led gains that saw the primary indicator the ZSE All Share Index surpass the 10 000 points mark in the week to Wednesday after gaining by 9 percent to 10 054 points.

The ZSE Top 10 Index jumped 12 to 6 098 points while the ZSE Top 15 points put on 11 percent to 6 834 points. At 20 949 points, the Medium Cap was 3 percent ahead of previous week.

The Small Cap surged 22 percent to 316 821 points with a year to date gain of 2 559 percent.

Total market value jumped 9 percent to $1,2 Trillion from $1,1 trillion recorded in the previous week, indicative of the massive gains recorded during the week.

CFI Holdings led the risers for the week with a 5712 percent jump to $41,12 from 70,75 cents following its return after a four year suspension. CFI shares resumed trading on Monday.

BAT rose 44 percent as it inches closer to $3 000 mark. The cigarette maker closed the week pegged at $2 865,60 maintaining its position as the most expensive counter ahead of NatFoods, which closed at $1 496 representing a growth of 24 percent.

At $88,99, Simbisa was 28 percent ahead of previous week while Econet wrapped the week's top five risers with a 22 percent increase to $69,97.

Other gains were seen in retail giant OK Zimbabwe ,which also put on 22 percent to $24,39 while General Beltings rose 20 percent to $2,54 as its volumes for the half year to June 30, 2021 remained firm despite subdued demand in some markets due to the effects of Covid 19 pandemic and supply chain disruptions.

The duo of Afdis and Unifreight Rose 16 percent each to $105 and $35 respectively. Diversified resources group, RioZim added 10 percent of value to $33 while Dairibord rose by the same margin to $41,99.

On the downside, hospitality group, African

Sun went down 17 percent to $9,02 from $10,89 recorded in the previous week.

Media group, Zimpapers lost 12 percent to settle at $2,70 while Proplastics eased 10 percent to $25. Fidelity Life fell by the same margin to close at $8,05 from $8,99 in the previous week. The insurance firm said gross premium written for the half year to June 30, 2021 grew 118 percent to $184 million as the firm made investments into new markets while the expansion of distribution channels resulted in writing new businesses including USD denominated policies, which helped lift revenues.

Art Corporation wrapped the week's top five fallers as it eased 8 percent to $8,05.

The trio of MedTech, NMB and brick making firm – Willdale also gave up 8 percent to settle at 23,36 cents, $13,42 and $3,91 respectively. Also on the downside was sugar processor, starafrica, which backtracked 5 percent while hospitality group, RTG eased 2 percent to $5,80.

Cafca, Cassava and NTS remained flat at $170, $31,45 and $8 respectively.