EFE Securities •
1 week ago •
Weekly Reports
MARKET COMMENT 28.02.2025
Heavy cap counters anchored the market in the week under review, as demand in selected counters surged. The All Share Index was 7.76% firmer at 204.06pts while, the segregated Industrials gained a near similar 7.45% to close pegged at 203.78pts. The Blue-Chip Index was 9.76% higher at 204.65pts mainly buoyed by gains in BAT and Delta while, Mid Cap Index added 1.26% to 225.24pts. Elsewhere, TSL released its FY24 results for the period ended 31 October 2024, in which it reported a profit after tax of US$3.62m and did not declare a dividend as it is channeling the funds for the acquisition of Nampak.
The market closed with a positive breadth of fourteen as twenty-two counter advanced against eight that faltered while, three sailed stable. Cigarette producer BAT led the
gainers of the day as it charged 60% to $104.0000, trailed by brick manufacturer Willdale that advanced 34.24% to $0.0287. Digital media group Zimpapers jumped 32.89% to $0.2000 while, Proplastics garnered 31.53% to $1.1180. Retailer OK Zimbabwe soared 17.63% to settle at $0.3663 as top management was changed in the firm in a bid to rescue the firm from various challenges it is experiencing. Beverages giant Delta soared 17.45% to close at a VWAP of $15.4373 while, construction concern Masimba Holdings put on 17.09% to $3.7000. Sugar processor Star Africa eked out 16.67% to $0.0350 while, Zimre Holdings closed pegged at $0.2900, following a 13.72% ascent. Cable manufacturer Cafca ticked up 11.11% to end trading at $20.0000. Trading in the negative category was TSL that plunged 14.99% to $1.6960 while, financial giant ZB retreated 14.87% to $4.0003. Property companies Mashonaland Holdings and First Mutual plummeted 8.45% and 4.95% to close pegged at $1.4500 and $0.9495 respectively. Sugar processor Hippo trimmed 4.32% to $6.0995 while, agriculture concern Ariston shed 3.27% to $0.0580. Logistics company Unifreight parred off 2.82% to $1.9825. Banking group FBC was 0.26% weaker at
$7.4700 as it completed the fallers of the week.