Stock Market Weekly Review

THE Zimbabwe Stock Exchange Limited (ZSE) recorded revenue for the year to December 31, 2021 jumped 80 percent to $358 million compared to $198 million in the prior year.

Total expenses doubled to $355 million with staff costs accounting for $190 million while other expenses ballooned to $148 million from $77 million in the prior year.

Profit for the year doubled to $9 million from $4 million achieved in 2020.

In terms of trades on the bourse, the market remained firm last week with all benchmark indices closing in the positive, in gains led by mid-tiers.

During the week to Wednesday, the primary indicator, the ZSE All Share Index rose 3 percent to close at 24 240 points. The ZSE Top 10 Index advanced 1 percent to 15 744 points while the ZSE Top 15 went up 2 percent to settle at 17 354 points.

At 41 714 points, the Medium Cap was 9 percent above prior week as it paced the fastest. The Small Cap was 3 percent above prior week to close the week at 489 713 points.

Total market value jumped 2 percent to $3 trillion reflective of the gains recorded during the week.

Retail giant, OK Zimbabwe headlined the week’s risers with a 40 percent increase to $59,67 followed by insurance group – FML which rose 30 percent to $24.

At $9,20, hospitality group – RTG was 29 percent above prior week while GetBucks put on 26 percent to settles at $14,85.

Property firm, FMP wrapped the week’s top risers with a 24 percent increase to $8,10.

Other gains were seen in hospitality group – African Sun which put on 23 percent to $20,25 while CFI rose 22 percent to $233,50.

Mining and farming implements maker, Zimplow added 20 percent of value to $23,06.

The market was not short of fallers as Meikles topped the fallers with a 4,6 percent decline to $163,93. Proplastics gave up 4,4 percent to $65. At $82,43, TSL was 3 percent lower than prior week while telecoms giant – Econet retreated 2 percent to $234,81.

Conveyor belts supplier - GB Holdings completed the top five fallers with a 0,45 percent decline to $1,39.

Other losses were seen in tea producer – Tanganda which fell by 0,4 percent to $248,94 as the agriculture concern reported depressed bulk tea production for the half year to March 31, 2022 due to bad weather. But total bulk tea bulk tea production went down 12 percent to 5 935 tonnes from prior year production of 6 762 tonnes due to dry weather in December of 2021 and February 2022. But its bulk tea exports rose 14 percent to 3 747 tonnes for the period.

Art remained flat at $22 as the group said it remained resilient during the half year to March 2022 with moderate volume growth seen across segments despite a challenging environment.

BAT, CAFCA and FBC also remained unchanged to close at $3 660, $260 and $71.

On the ETFs, the Old Mutual ETF went down 7,34 percent to $11,10 as the Datvest ETF tumbled 4,5 percent to $2,01 with the Morgan and Co ETF advancing 4,17 percent to $25 in Wednesday session.