EFE Securities •

7 months ago •

Weekly Reports

WEEKLY REPORT 05.01.2023

The ZSE continued to sail in the positive territory spurred by the sustained bullish sentiment prevailing on the bourse. All the four indices under our review closed in the black, buoyed by surging market heavies that saw the Top Ten Index ticking up 26.41% week on week to settle at 113,877.95pts. The All Share and Industrial Indices similarly got a boost from the top capitalised stocks with the former advancing 20.29% while, the latter firmed 23.20% and settling at respective levels of 253,617.96pts and 816,297.89pts. Elsewhere, the Mid -Cap Index joined the surges after posting a cumulative weekly gain of 6.62%, lifting it to 981,473.86pts.

The market movers were as expected dominated by gainers that numbered twenty-one against a mere six fallers for the week, while eight sailed stable. Headlining the charging pack was Beverages group Delta which accumulated 41.61% week on week to end $4,969.4052, having reached a high of $5,138.6000 in the last session of the week. CAFCA joined the rising elites on 32.21% jump to $4,422.45, on retail demand.  Life assurer Fidelity was also seen in the riser’s zone after advancing 31.91% during the week to close pegged to $310.0000, where supply could be found. Meikles rose 31.59% to $1,640.8333 while, apparel retailer Edgars gained 27.78% to $115.0000. Banking group CBZ was 25.98% higher at $4,000.0000 while, Star Africa added 23.42% to settle at a VWAP $9.8739.  Ecocash Holdings rose 21.78% to $214.5531 with ZB increasing 20.63% to settle at $1,035.0000. Completing the top ten weekly risers was telecommunications giant Econet that firmed up 19.45% to settle the week at $1,010.4696.

Six counters were in the fallers zone led by Bridgefort Class B shares which succumbed 10.85% to settle at $30.0000 on weakening demand. Zimre Holdings Limited followed on a 5.15% decline that took it to $174.9483 while, Turnall lost 2.69% to end at $38.9231 on waning demand. Willdale which is trading under cautionary, trimmed 1.07% during the week and closed at $41.7561 as demand continued to weaken in the brick maker. Packaging group Nampak was 0.94% lower at $292.2290 while, BAT lost 0.49% to $13,035.2941, having traded a low of $12,900.0000 in the      last session of the week.