EFE Securities •
8 months ago •
Weekly Reports
Weekly Report - 01.09.2023
The ZSE recorded marginal gains in the closing week of August on depressed trading activity as many players remained sceptical about the political environment. The All Share Index advanced 0.88% to 122,199.15pts while, the Industrial Index inched up 0.78% to 392,994.91pts. The Mid Cap index was the major gainer amongst the Indices we review as it garnered 5.69% to 450,491.88pts while, on the contrary the Blue-Chip Index declined 1.53% to 56,448.75pts. Elsewhere, financial and banking institutions released some good sets of HY23 results, with major highlights coming from FBC, ZB Bank and NMB as they reported inflation adjusted profits of $365.99bn, $678.46bn and $194.94bn respectively.Thirty-eight counters were active during the week under review distributed into twenty-one gainers, twelve losers and five that sailed stable, leaving the market with a positive breadth. First Mutual Limited was the best performer of the week topping on a 30.96% surge that took the insurer to $196.4458. BAT followed after rising 27.83% to close at $17,953.0000 with milk processor Dairibord adding a further 18.87% to end at $675.0000. Zimre Holdings Limited was 15.08% firmer at $67.2857 while, RIOZIM ticked up 14.98% on a rare trade. Nampak closed 12.24% higher at $165.0000 with HIPPO Valley Estates ticking up 11.11% and settled at $2,0000.0000. Turnall Holdings was 10.71% up as it closed at $15.5000 on firming demand while, Unifreight advanced 7.50% to $220.0000. Completing the Top Ten winners list was Zimpapers that added 6.92% to see it ending the week at $10.6923.
Mitigating gains obtained during the week were losses by brick manufacturers Willdale which succumbed 81.16% to $3.3544 while, CBZ trailed on a 21.39% slide that took the banking group to $628.8874. General Beltings was 11.63% lower at $38.0000 with retailer OKZIM declined 7.16% to settle at $130.2460 where demand could be found. Tanganda lost 5.58% during the week to close at $1038.5714 as TSL eased 4.39% to $500.0500. NMB bank dropped 4.14% to end pegged at $160.0836 while, Ecocash reversed previous gains after losing 1.83% to settle lower at $136.9822. FBC bank was 1.24% softer at $809.8631 as Beverage group Delta was also seen in the fallers zone after easing 1.15% to close at $2,174.7626.