The Zimbabwe Stock Exchange (ZSE) continued to surge as total market value jumped 21 percent last week to reach a new post dollarisation record of $50 billion.
In the week to Wednesday, the primary index, the ZSE All Share Index rose 22 percent to 388,47 points, while the market’s heavies, the ZSE Top 10 Index paced the fastest in the week with a 25 percent gain to 355,94 points.
On a year to date basis, the Top 10 Index has also recorded the highest gains of 75 percent.
The ZSE Top 15 Index was 24 percent firmer to 354,39 points and extended its year to date gains to 72 percent.
At 447,44 points, the medium cap index was 16 percent above prior week levels. The small cap index was 11 percent higher to close the week at 935,88 points.
Headlining risers for the week was hospitality group, RTG, which surged 72 percent to 30 cents compared to prior week’s price of 17,4 cents.
Insurance group, FML advanced 61 percent to 69,83 cents, while retail giant, OK added 59 percent to $1,88.
At 29,92 cents, ZHL was 49 percent above prior week levels, while cables manufacturer, Cafca completed the top five risers with a 43,9 percent gain.
The duo of African Sun and Powerspeed rose by 43 percent each to close at 44,85 cents and 42,3 cents respectively.
Diversified hospitality group, Meikles put on 37 percent of value to settle at $4,80 while the market’s biggest stock by capitalisation, Delta and property firm ZPI each added 33 percent to close at $6,01 and 9,36 cents, in that order.
Other significant gains were recorded in Afdis which increased 28 percent to $5,15. Agricultural concern, Ariston rose 27 percent to 42 cents, while Old Mutual jumped 26 percent to $50,65.
The trio of Seed Co International, Simbisa and TSL each put on 25 percent to close pegged at $3,97, $2,55 and $1 in that order.
At 5,81 cents, starafrica corporation was 21 percent above prior week levels after the sugar processor indicated it anticipated maintaining a growth trajectory in export earnings after the third quarter performance showed improvements in sales volumes driven by exports into regional markets.
Its revenue for the quarter more than doubled on export growth as well as price adjustments and good product mix.
The market’s most expensive counter, BAT closed the week at $67, representing an 11 percent growth, while telecoms giant Econet also ticked by the same margin to close at $2,50.
The market was, however, not short of bears as three counters closed pointing southwards. Dairibord fell the hardest letting go of 18 percent of value to close pegged at 57 cents compared to 70 cents recorded in the prior week.
Banking group, FBC eased 6 percent to 85,17 cents. Zimplow wrapped up the week’s fallers with a marginal 0,32 percent decline to $1.
On the resources side, Bindura advanced 5 percent to 25,2 cents, while Falgold and RioZim remained flat at 3 cents and $2,35 respectively.
Falgold has announced that it has applied for a cessation in trading of its shares on the local bourse as the gold miner has been struggling over years which has resulted in disposal of some of its prime mine assets.
Coal miners Hwange announced voluntary suspension from the London Stock Exchange (LSE) with effect from Monday this week.
The temporary suspension of the company on the LSE comes after the colliery firm was suspended from trading on the ZSE in 2018 as well on the Johannesburg Stock Exchange after it adopted a reconstruction plan.
Also remaining flat for the week was largest media group, Zimpapers that closed at 30 cents.
Paper and packaging group, Art also remained flat at 12,3 cents and has indicated it will continue to explore regional markets after it earned a fortune from exports in the 2020 first quarter, particularly the three months to December 31, 2019.
Despite the challenges that characterised the first quarter trading period, ART reported a generally commendable financial performance with a 9 percent growth in overall volumes aided by segments’ resilience.
Largest banking group, CBZ, together with FMP, Nampak and PPC also remained unchanged at 80 cents, 22,5 cents, 80 cents and $5 respectively.–herald.co.zw