Zimbabwe Stock Exchange in best weekly run

THE Zimbabwe Stock Exchange (ZSE) market capitalisation jumped 32,15 percent last week to a post dollarisation high of $43,27 billion, as the persistent bullish sentiment maintained strong demand for shares across the board.

Zimbabwe’s only listed as well as the country’s largest media group, Zimbabwe Newspapers Group (Zimpapers), was among the top performers after the diversified firm saw its stock pile on a weighty 35 percent.

As such, the ZSE All Share Index raced past the 300 points mark and closed the week at 332,05 points, its all-time high, after the cumulative gains of 32,15 percent over the week.

This meant the benchmark index closed the month 44,32 percent higher as the market underlined its recent surge, unbroken since the second week of January 2020. Year to date, the ZSE has added about 44,69 percent.

The ZSE’s main Industrial Index would not to be out shone after it added 32,62 percent and closed at 1 109,41 points, as it breached the 1 000 points mark for the first time and ended the week up and 44,77 percent firmer. 

The top capitalised stocks led the market charge as the Top Ten Index went up 41,24 percent and closed at 312,21 points with a year to date return of 54,04 percent.

Stocks remain the darling of many an investor in Zimbabwe given the negative returns on the money market, in view of high inflation and limited investment options, as they can provide the necessary hedge.