Stock Market Weekly Review
EQUITIES on the Zimbabwe Stock Exchange (ZSE) shored up gains in the week to Wednesday, February 1, 2023 led by mid-tiers resulting in all benchmark indicators closing pointing northwards.
During the period under review, the primary indicator the ZSE All Share Index put on 7 percent to 23 462 points on gains recorded across board.
The market heavies — the ZSE Top 10 Index and ZSE Top 15 Index put on 6 percent each to close the week at 14 293 points and 16 011 points respectively.
At 48 923, the Medium Cap was 10 percent ahead of prior week as it paced the fastest.
The Small Cap also recorded gains of 4 percent to 498 287 points.
In line with gains recorded, total market value rose by 7 percent to settle at $2,532 trillion compared to $2,353 trillion recorded in the previous week.
Headlining risers for the week, Seed Co Limited put on 61 percent to close at $218,20 compared to $135,13 recorded in the prior week.
Next was food and dairy processor Dairibord which rose 50 percent to $68,28 while Proplastic jumped 47 percent to settle at $58,95.
At $413,03, sugar processor Hippo was 28 percent above prior week level. Tanganda wrapped up the week’s top five gainers with a 24 percent increase to $168.
Other gains were seen in retail giant OK Zimbabwe which put on 21 percent to $41,14 while property firm — FMP rose 15 percent to close at $15. Masimba was also on the upside with a 14 percent increase to close at $114,60.
The duo of ZHL and Turnall rose by 11 percent each to $7,66 and $4,44 respectively.
EcoCash rose by a marginal 1 percent to $51,60 as the group reported an increase in US dollar money transfer on its mobile money platform during the quarter to November 30, 2022 following reduction in domestic forex transaction costs from 4 percent to 2 percent.
On the south side was NTS which lost 15 percent to close at $10,20 followed by Get
Bucks lost 8 percent to $20. Brick-making firm — Willdale backtracked 6 percent to settle at $2,97. Banking firm NMB lost 4,7 percent to $40 while diversified hospitality group Meikles completed the top five laggards with a 4,1 percent decline to $158,16.
Other losses were seen in Edgars and GB Boldings which gave up 2 percent each to settle at $9,60 and $1,74 respectively.
Hospitality group, RTG was also on the downside with a 1 percent decline to $12.
On the ETFs market, the Old Mutual ZSE Top 10 ETF rose 1 percent to $7,56 while the Cass Saddle Agric ETF added 0,45 percent to $2,25. The Datvest MCS ETF fell 0,88 percent to $150 while the Morgan & Co Made in Zim and the Morgan & Co Multi-Sector ETF lost 0,7 percent $1,30 and 0,18 percent to $24,45.
Tigere REIT remained unchanged at $50,62 on 1,295 shares by end of Wednesday’s trading session.
Elsewhere, on the VFEX, Bindura dropped 10 percent to US2,14 cents while, in contrast, Simbisa ticked up 3,67 percent to US44,58 cents in Wednesday trade alone.