Stock Market Weekly Review

THE Zimbabwe Stock Exchange’s market cap stumbled during the week to Wednesday 12 April and was 1,12 percent lower at $3,11 trillion by the close of trading compared to last week’s $3,15 trillion.

During the week, the primary indicator, ZSE All Share Index plunged from 38 349 points landing at 36 788 points which represents a 4 percent decline.

The ZSE Top 10 Index was the hardest hit shedding 6,62 percent to end the week at 21 217 points while the Top 15 Index fell by 5,7 percent and closed at 25 227 points compared to 26 762 points.

FML was one of the top losers during the week plunging 5,7 percent ending the week at 2 075 cents.

The retail giant OK Zimbabwe shed 6,7 percent during the week under review closing at 6 000 cents despite the recent unveiling of the 2023 edition of the OK Grand Challenge, the biggest and longest-running retail promotion in the country.

EcoCash, Zimbabwe’s largest mobile money platform fell 22,3 percent closing at 5 274 cents while Econet was the top faller going down 26,3 percent to 18 306 cents compared to last week’s 24 836 cents.

This comes after the firm announced plans to raise approximately US$30 million to pay off its debentures.

Further losses during the week under review were offset by gains in DZLH closing positive for the week up 18,3 to 11 499 cents from last week’s 9717 cents.

The preceding counter on the top risers, Truworths closed at 311 cents during the week under review representing a 15 percent gain from last week 270 cents.

Construction giant Masimba, also improved by 15 percent during the week under review to 16 675 cents compared to 14 500 cents last week.

Mash Holdings rose by 14,5 percent closing at 1500 cents from a previous 1310 cents.

CFI improved by 15 percent from 58 880 cents last week to close at 67710 cents during the week.

On ETF’s OM ZSE Top-10 ETF was 2,13 above its prior week’s level of 999 cents closing at 1021 cents while Morgan&Co Multi-Sector rose by 5 percent to 3 100 cents.

However, the duo Cass Saddle Agric ETF and Morgan&Co Made in Zim closed negative at 203,7 and 192,4 cents respectively.