EFE Securities •

6 days ago •

Weekly Reports

WEEKLY REPORT 17.04.2024

The ZSE retreated in the week under review, weighed down primarily by losses in the heavy and mid-cap counters. 
The All Share Index was 0.17% weaker at 359.85pts while, the Blue Chip Index was 0.15% down at 363.07pts. The 
Mid Cap Index was 0.43% weaker at 370.83pts while, on the contrary the Industrial Index was 0.02% firmer at 
353.57pts as it extended its YTD gains to 30.09%. Unifreight Africa announced that it has entered into a sale of 
shares agreement for the acquisition of an effective 87.67% shareholding in Cheeta Express – the sole authorised 
global service participant for FedEx Express Zimbabwe, in a deal worth US$2.08m which represents 15.7% of the 
company’s market cap.

The market capped the week with a negative breadth of 
four as fifteen counters faltered against eleven that 
advanced. Leading the laggards of the week was banking 
group TNCI that succumbed 21.03% to $0.0944 followed 
by exchanges holding company ZSE that plummeted 
20.76% to $0.9500. Unifreight plunged 15.00% to $2.5500 
while, financial services company First Mutual eased 
14.86% to close at $2.9800. Seed producer SeedCo 
Limited retreated 14.84% to $3.3900 despite limited 
supply in the counter while, Afdis closed the week pegged 
at $13.8000 following a 13.75% descent. Roofing 
producer Turnal shed 9.80% to $0.0902 while, retailer 
Meikles declined 5.69% to $3.2000 on the back of 
constrained demand in the counter. Property concern 
FMP that is trading on a cautionary tumbled 5.00% to 
$0.9500 while, sugar producer Hippo was 4.90% weaker 
at $9.5097. 
Trading in the positive was tea producer Tanganda that 
edged up 25.63% to $1.7025 as the market continued to 
well receive new about the ongoing corporate 
restructuring. Tsl advanced 24.93% to $5.5000 while, 
Masimba edged up 24.15% to $2.3000. Packaging 
producer Nampak was 16.00% firmer at $0.8004 while, 
sugar refiner Star Africa gained 13.33% to $0.0340. 
Mashonaland Holdings surged 6.31% to $1.2226 post 
declaration of a US0.01576 cents final dividend. 
Zimpapers was 5.94% higher at $0.0720 while, CBZ 
holdings grew by 4.30% to $15.0000. The duo of FBC and 
RTG added a similar 0.10% to see the former close at    
$9.9100 and the latter at $1.6600.