Zimbabwe: ZSE On Growth Trajectory

30 April 2021

The Zimbabwe Stock Exchange (ZSE) maintained its growth trajectory spurred by firming demand in selected counters.

During the week to Wednesday, the primary indicator, the ZSE All Share Index, rose 4,05 percent to 4 592 points from 4 414 recorded in the previous week.

The ZSE Top 10 Index went up 4,2 percent to close at 2 646 points while the ZSE Top 15 jumped 3,8 percent to 3 009 points.

At 11 110 points, the Medium Cap was 4 percent above prior week level.

The Small Cap was the only indicator to close pointing southwards after letting go 2 percent to 43 271, although it remains the biggest gainer on a year to date basis by 263 percent.

Total market value rose 3,69 percent to $534 billion compared to $515 billion recorded in the previous week, reflective of the gains recorded across board.

Financial services group, ZBFH headlined risers for the week with a 28,5 percent increase to settle at $45 while Nampak added 28,1 percent to close at $16,01.

At $4,86, resources group, Bindura was 20 percent above prior week level while biggest counter by market value, Delta rose 19 percent to $51.

Conveyor belts maker, General Beltings Holdings, put on 16 percent to 69 cents wrapping up the week's top five risers.

Other gains were recorded in cigarette maker BAT which rose 11 percent to $800 as it remains the most expensive stock.

Masimba and MedTech put on 13 percent each to settle at $19,60 and 12,91 cents respectively while diversified hospitality group, Meikles ticked 10 percent to $59,78.

The duo of Edgars and Fidelity went up 9 percent each to $3,19 and $5,99 respectively.

Innscor and Turnall put on 7 percent each to $69,78 and $3,02 respectively. Turnall reported turnover for the year to December 31, 2020 was 4 percent lower than prior year as export volumes were 43 percent lower due to closures on borders as countries restricted movements due to Covid 19 pandemic.

On the downside, hospitality group, African Sun fell 25 percent to $1,68 followed by NTS which gave up 11 percent to $8.

At 57,25 cents, sugar processor , Star Africa was 8 percent below previous week's 62,76 cents.

Diversified insurance group ZHL went down 6 percent to $2 while brick making firm Willdale was 5 percent weaker to 93,37 cents wrapping the week's top five fallers.

Other losses were recorded in the trio of hospitality group - RTG, Zimplow and Unifreight that lost 4 percent each to $2, $6,70 and $12 respectively.

Zimplow reported revenues went up 17 percent driven by growth in volumes across its major product ranges at Farmec, Barzem, CT Bolts and Mealiebrand.

Also on the downside, Cassava, CBZ and TSL backtracked by 2 perfect each to $12,42, $92,47 and $42 in that order.

Afdis, Cafca, Lafarge and GetBucks remained flat at $46, $120, $50 and 40 cents respectively. Also maintaining prior week level were NMB at $10,90 and resources group - RioZim at $20,40.

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