Mid tiers and small caps led a bull run on the Zimbabwe Stock Exchange (ZSE), which saw gains recorded across board. During the week to Wednesday, the primary indicator, the ZSE All Share Index added 4,7 percent to close at 6 041 points. The ZSE Top 10 Index jumped 3,8 percent to 3 269 points compared to 3 147 points recorded in the previous week.
At 3 722 points, the ZSE To 15 Index ticked 4,1 percent to 3 722 points. The Medium Cap put on 5 percent to 15 645 points.
The Small Cap paced the fastest with a 23 percent increase to114 222 points remaining the biggest gainer on a year-to-date basis.
Total market value advanced by 5 percent to $706 billion from $672 billion, consistent with the gains attained across board.
Conveyor belts manufacturer, General Beltings Holdings led risers for the week with 71 percent surge to $1,29 from 75,59 cents.
Hospitality group, African Sun put on 37 percent to $5,11 from $3,72 recorded in the previous week.
At $7,89, GetBucks was 31 percent above pride week level of $6. Sugar processor, starafrica rose 23 percent to $1,29 while property firm, Mashonaland Holdings wrapped the week’s top five comes with a 21 perfect increase to $3,38.
Other gains were recorded in Fidelity and Meikles that rose 20 percent each to end the week at $7,50 and $84,27. At $12,45, NTS was 19 percent above prior week level. The duo of Willdale and RioZim rose by 17 percent each to settle at $1,85 and $29,40 respectively.
The market was not short of fallers as cables maker, Cafca fell the hardest with a 16 percent decline to $125 from $150 recorded in the previous week. Padenga Holdings went down 13 percent to $26,26. The crocodile breeder has indicated plans to list on US dollar-denominated Victoria Falls Stock Exchange (VFEX) which will follow its departure from the ZSE in a move that will unlock value.
Property firm, FMP gave up 10 percent to end the week at $16 while TSL eased 9,8 percent to $40. Cigarette maker, BAT wrapped the week’s top five laggards after it backtracked 9 percent to close at $900, but remaining the most expensive stock on the bourse.
Other losses were seen in retail giant, OK Zimbabwe which gave up 7 percent to $16,81 while the duo of FML and Bindura lost 5 percent each to settle at $18,47 and $4,81 respectively.
Art and Proplastics remained unchanged at $8,20 and $28 in that order.
Meanwhile seed manufacturer, Seed Co Group has moved to abandon plans to bring Seed Co Limited under Seed Co International after failing to get all regulatory approvals. The transaction should have seen the Zimbabwean subsidiary moving to the VFEX, but the abandonment will now result in the group resuming trades on ZSE. – Business Weekly