Zimbabwe Stock Market Weekly Review

Spread the love

The Zimbabwe Stock Exchange (ZSE) All Share Index closed positive during the week to Wednesday 29 November, up by 8 percent to 188 519,12 points from 174 546,79 points last week.

The ZSE Top 10 Index added 5 905,36 points (7,96 percent) during the week to 74 196,51 points.

Also closing in the positive territory, the ZSE Top 15 Index improved by 6,7 percent, adding 6 840,18 points during the week to settle at 109 020,34 points.

However, Small cap ended the week 0,5 percent weaker at 5 316 568 points from 5 343 534 points last week.

The market closed with a total market capitalisation of $15,03 trillion a 6,5 percent improvement from last week’s $14,12 trillion. While the overall market breadth remained positive with the market recording 19 advances, 5 declines while 23 counters remained unchanged at their last week’s level.

The top performers for the week were led by seed manufacturer Seed Co, up 32,66 percent at $969,81 from $731,05 while other gains were also seen in Edgars which closed at $110 from $85 last week.

Meikles added $251 (22,9 percent) during the week under review to $1 346 while FBC gained 17,4 percent to trade at $1 010 from $860 last week.

The positive market performance is also attributable to gains made in First Mutual Properties also closed positive up by 15,18 percent during the week to $210.

However, further gains were weighed by losses in TSL which recorded the largest losses during the week, down 8,1 percent to trade at $1 100 from $1 197.

ZBFH also closed in the red, down 3,41 percent during the week to $850 from $880.

Also in the negative territory, starafrica closed down 0,61 percent during the week to trade at $4,84 while First Mutual Life closed 0,14 percent weaker to close at $1 044,23 from $1 045,67 last week.

Masimba however lost by a marginal 0,01 percent from $810,10 the previous week to $810.

On Exchange Traded Funds (ETFs) Datvest MCS ETF recorded the largest gains, up 11,47 percent to $9 followed by Morgan&Co Made in Zim which recorded gains of 11 percent from $6,81 to $7,56 during the week.

Morgan&Co Multi-Sector also closed positive, up 10,56 percent to $419,98 from $379,87.

On the other hand Old Mutual ZSE Top-10 ETF closed in the negative territory, down 0,46 percent from $32,10 the previous week to $ 31,95.

Source: Business Weekly