EFE Securities •
7 months ago •
Weekly Reports
WEEKLY REPORT 18.07.2024
The ZSE reversed prior week's losses, gaining 1.13% to close at 198.11 points, primarily driven by increased
demand in selected heavy and mid-cap counters. In the same vein, the Industrial Index gained a similar 1.13% to close at 197.97pts while, the Blue-Chip Index was 1.28% firmer at 192.16pts, mainly driven by gains in Hippo, SeedCo Limited, CBZ and Econet. The Mid Cap Index was 1.42% higher at 241.14pts increasing its YTD gains to
5.95%. Elsewhere, the recently reinstated counter Meikles released its FY25 results, in which it reported a net
loss of $264.02m and declared a final dividend of US$0.0080, payable on the 22nd of July 2025. Headlining the risers of the week was sugar producer Hippo Valley Estates which went up 26.01% to settle at $4.6000, where supply could be found. Following was SeedCo Limited which ticked up 21.64% week on week as it settled at $2.9803 on firming demand while, banking group CBZ Holdings added 10.42% to close at $7.1773, albeit it closing lower in the last session of the week. ART Corporation rose 9.27% to $0.1590 with heavy cap Econet
following on a 5.43% surge that took it to $4.0071, having traded a high of $4.3500 during the week. Another
banking group NMB also featured in the risers’ zone having ticked up 4.25% week on week and closed at $3.8600. Proplastics advanced 2.54% to end at $1.2500 while, brick manufacturer Willdale was 0.94% higher at
$0.0303. African Distillers was 0.21% up at $6.5000 as it completed the risers’ set of the week.
Overall, seventeen counters traded in the negative during the week against nine fallers while, three remained
stable. The freshly listed ZSE Holdings headlined the faller’s pack after succumbing 35.56% to $2.1662 with
milk processor Dairibord trailing behind on a 14.88% drop that took it to $1.2853. OK Zimbabwe Limited dipped 13.19% to $0.2392 while, Ariston trimmed 12.57% to end pegged at $0.0329 on waning demand. Tanganda lost 6.25% to close at $0.9000 with RTG sliding 1.54% to settle at $0.6400. Small cap counter Star Africa declined 1.43% to close at $0.0400 while, ZB Financial Holdings eased
0.72% to $3.4252. FBC Holdings lost 0.65% to $7.7000 as it completed the top ten losers of the week.