EFE Securities •

2 weeks ago •

Weekly Reports

WEEKLY REPORT 19.04.2024

Thin trades coupled with waning demand weighed down the ZSE in the week under review as the uncertainty surrounding the introduction of Zig continued to mount. The primary All Share Index dropped 4.38% to 95.99pts while, the Old industrial Index was 4.41% softer at 95.99pts. The Top Ten Index was the major casualty amongst the indices after plunging 6.74% to end the week at 92.99pts. The Mid Cap Index was the only gainer amongst its kind after rising 0.62% to settle at 102.32pts.

Sixteen counters registered gains against twelve that faltered, leaving the market with a positive breadth of  four. Leading the risers of the week was Willdale which topped on a 25.44% rise to close at $0.0502 on retail demand. Nampak Holdings followed on a 13.37% increase to settle at $0.4900 while, OKZIM added 11.88% to $0.5200 on firming demand. Hippo Valley was 8.57% firmer at $3.7800 with Zimre Holdings Limited adding 7.91% to $0.2590, where supply could be found. FMP was 7.61% higher to settle at $0.2774 while, Masimba gained 3.28% to end the week at $1.5500. Mashonaland Holdings Limited edged up 1.64% to $0.1505 with heavy cap Delta following on a 1.54% uplift that took it to $6.2954, having reached a high of $6.3000 in the last session of the week.  Proplastics was 0.59% higher at $0.5200.

On the downside, was sugar refiners Star Africa that dropped 79.98% to settle at $0.0040, where demand could be found. Heavy Cap Econet followed on a 28.52% decline to settle at $1.5296 while, Meikles was 14.38% to settle $2.4679. SeedCo Limited was 13.39% down at $1.8000 while, CBZ lost 8.50% to end the week at $3.6300. Ecocash eased 8.03% to close the week at $0.3010 with Turnall sliding 3.91% to end at $0.0270. Tanganda declined 2.96% to settle at $2.0195 while, FBC lost 0.45% to $1.9200. Banking group ZB reversed prior weeks’ gains after declining 0.12% and closed at $2.5395.