eBusiness Weekly
Enacy Mapakame
The Zimbabwe Stock Exchange (ZSE)’s total market capitalisation closed the week to Wednesday in the positive after adding 10,5 percent to $12 billion compared to $11 billion in the previous week.
Total weekly turnover jumped 178 percent to $48,5 million. Total volumes for the week surged 560 percent after 224 million shares exchanged.
Telecoms giant, Econet highlighted Tuesday session after a block trade of 25 million shares sailed through at $1,25 in a trade that helped anchor both volumes and turnover.
Foreign buys increased 20 percent to $6,5 million while foreign sales also rose by 94 percent to $5,2 million.
The number of trades decreased by 39 percent to 438 compared to 721 recorded in the previous week.
However, the market’s three benchmark indices closed with marginal declines as investors remained jittery ahead of full election results announcements.
The primary index, the ZSE All Share Index eased a marginal 0,62 percent to 114.32 compared to 115.03 level while the Top 10 Index let go of 0,085 percent to close the week at 118.8 level.
At 384.21 level, the Industrials Index weakened by 0,63 percent while.
The Minings Index was the only market indicator to close in the positive after adding a marginal 0,23 percent to 164.62 level on gains in Bindura.
Headlining risers for the week, property concern, First Mutual Property (FMP) gained by 13,88 percent to 5,58 cents followed by Dairibord which put on 10,15 percent to close the week at 14 cents.
National Foods and Simbisa rose by 1,8 percent to $5,60 and 1,46 percent to 48 cents respectively. At 5,6 cents, resources firm, Bindura was 1,27 percent above previous week’s 5,53 cents.
Other gains were recorded in Delta and Old Mutual that rose by 0,55 percent to $2,16 and 0,4 percent to $5,02 cents.
On the downside, pharmaceutical group, Medtech was the top faller for the second consecutive week after it succumbed 50 percent week on week to 0,01 cents.
GetBucks eased 10 percent to 3,33 cents while industrial giant Innscor let go of 5,33 percent to $1,42.
Dually listed cement maker, PPC and crocodile breeder Padenga succumbed to profit taking as they fell 4,31 percent to $1,21 and 2,83 percent to 60 cents respectively.
Econet fell 2,07 percent to $1,23 while retail giant, OK Zimbabwe closed the week 1,07 percent weaker to 22,1 cents.
Other losses were recorded in Hippo that fell 0,59 percent to $1,69 while RioZim capped all fallers after it let go of 0,17 percent to $147.
Of the active counters 40 stocks remained unchanged. These include African Distillers, First Mutual Limited, Meikles, Powerspeed and Zimpapers that maintained previous week’s prices of $1,45, 16,5 cents, 35 cents, 8 cents and 1,3 cents in that order.
The greater part of the week, the country was on the edge over the July 30 harmonised elections, which prior Wednesday, had been held as the most peaceful election experienced in Zimbabwe.
The parties involved have campaigned on an economic transformation agenda providing hope for local industry and the economy as a whole.
Analysts have maintained that the outcome of this election will be critical in determining the course the Zimbabwe economy will take going forward
