eBusiness Weekly
Enacy Mapakame
The Zimbabwe Stock Exchange (ZSE) closed the week in the black after all indices except for the resources closed pointing northwards.
During the week to Wednesday, the primary index, the ZSE All Share Index gained by 2,07 percent to close pegged at 115.18 level.
The ZSE Top 10 Index rose by 2.74 percent to 119 level on gains in the market’s top cap counters. On a year to date basis, the ZSE Top 10 Index is 19 percent higher as it paced faster than other indices.
At 387.49 level, the Industrials Index was 2,11 percent above previous week’s 379.49 level. The Mining Index was the only indicator that closed in the negative after it let go of a marginal 0,4 percent to close pegged at 158.27 level.
Total market capitalisation increased by 1,85 percent to $12,243 billion compared to $12,020 billion recorded in the previous week.
Weekly turnover weakened by 77,95 percent to $1,322 million compared to $5,995 million in the prior week.
However, weekly volumes increased 73,44 percent as 30,051 million shares exchanged from prior week’s 17,327 million.
Number of trades also decreased by 73,96 percent to 125 from 480 in the previous week.
Headlining risers for the week was Powerspeed which added 19,79 percent of value to 11,5 followed by Art Corporation which put on 11,96 percent to close pegged at 6,18 cents.
Beverages giant, Delta added 6,37 percent of value to close at $2,15 while financial services group, CBZ rose 6,12 percent to 13 cents.
The banking group released its earnings yesterday (Friday).
Cigarette manufacturer, BAT put on 2,86 percent to $27 as it maintains its position as the market’s most expensive stock.
Other gains were recorded in Old Mutual which put on 2,52 percent to $5,34 while Econet added 1,54 percent to $1,24. The telecoms giant last week launched a new product offering, EcoFarmer Club, which enables farmers access to a bundle of services that include agricultural commodity prices, valuable farming tips, relevant local weather information and a mobile trading platform which links farmers to buyers.
Cafca also closed the week in the positive with a 1,34 percent gain to 75 cents while Turnall gained by 1,43 percent to close pegged at 1,42 cents.
Further gains were offset by losses in financial services group, ZB Financial Holdings Limited which eased 9,77 percent to 30 cents.
Sugar manufacturer, Star Africa let go of 8,33 percent to close at 1,1 cents.
At $1,10, cement maker PPC was 8,06 percent below previous week’s $1,19. Resources group, RioZim eased 0,65 percent to $1,39, dragging the entire Mining Index.
The country’s biggest retail group, OK Zimbabwe eased a marginal 0,13 percent to 23,01 cents from 23,04 cents recorded in the previous week.
Other losses were recorded in fast foods group, Simbisa Brands that lost a marginal 0,02 percent to 47,99 cents.
Spirits and wines maker Afdis remained flat at $1,45 after reporting its profit for the full year to June 30, 2018 grew by 23 percent to $30,6 million on volumes growth across segments.
Banking institution NMB Holdings also remained flat at 12,2 cents. NMB recorded a profit before tax of $11,7 million for the half-year to June 30, 2018, resulting in total comprehensive income of $9 million.
Peers FBC Holdings also maintained previous week’s price of 22 cents. The financial services group reported a 54 percent jump in after tax profit to $14,8 million in the six months to June 30, 2018 as interest income increased during the period on the back of increase in plastic money usage.
Investors still await the new Government to give policy direction on the course the economy will take. The economy is generally projected to grow, driven by growth in primary sectors, agriculture and mining.
