Equities on the Zimbabwe Stock Exchange (ZSE) recovered in the week to Wednesday in gains led by the market’s heavy cap counters resulting in four of the benchmark indices closing in the positive.
The primary indicator, the ZSE All Share Index rose 1,7 percent to 14 826 points from 14 577 points sustained by gains in the market’s top cap counters.
The ZSE Top 10 Index rose 1,8 percent while the ZSE Top 15 Index put on 2,15 percent to 9 644 points.
At 33 366 points, the Medium Cap was 1,45 percent above prior week’s level while the Small Cap was the only index top close in the negative.
Total market value recovered by 1,7 percent to close at $1,639 trillion compared to $1,610 trillion recorded in the previous week reflecting on gains seen across board.
Microfinance services provider GetBucks headlined risers for the week with a 14 percent increase to $21,80 as the group has indicated plans to migrate to the VFEX with board approvals already in place.
Hospitality group- Africun Sun rose 12 percent to $24,03 from $21,40 recorded in the previous week.
At $67,09, Axia was 6 percent above prior week level as the specialty retail and distribution group has also shown interest to delist from the ZSE and relist on the VFEX. The group’s board has already approved the transaction. Insurance giant, FML added 4,3 percent to close at $24 as the group’s annual general meeting which was scheduled to be held last week was deferred to a later date due to a probe by regulator Insurance and Pensions Commission (IPEC).
Largest counter by market value Delta wrapped the week’s top fife risers with a 4,1 percent increase to $244,95 from $235,26 in the previous week.
The market was not short of fallers as Ariston gave up 14 percent to $3,43 followed by Zimpapers which backtracked 13 percent to $2,41.
At $17,54, Mashonaland Holdings was 12 percent below prior week’s level while clothing retailer Edgars lost 11 percent of value to close the week at $8.
On the exchange-traded funds (ETFs) trades were mixed as two of the ETFs closed in the positive. The Old Mutual Top ZSE Top 10 jumped 10 percent to $6 while the Morgan & Co Multi-Sector ETF rose 1,7 percent to$21,19.
The Cass Saddle Agric ETF closed the week 9 percent down to $1,81 while Datvest eased 3 percent to $1,64. Morgan & Co Made in Zim remained flat at $1,38.
On the VFEX, a total of 284,426 shares exchanged hands on Wednesday with Padenga trading 10,000 shares at previous price of US24,05 cents.
Seed Co international claimed the larger slice of the cake after trading 263,245 shares though it slipped 0,21 percent to US33,90 cents. Simbisa Bands and Nedbank Depository succumbed 0,35 percent and 13,278 percent to US33,95 cents and US$11,50 respectively.
Simbisa started trading on the VFEX last week after successfully migrating from ZSE. Resources groups – Bindura and Caledonia remained unchanged. – Herald
