EFE Securities •

6 months ago •

Weekly Reports

WEEKLY REPORT 21.12.2023

Resurgent demand in market heavies saw the ZSE reverse prior week’s losses and surge into gains, with all four benchmarks in our review closing in the black ahead of Christmas holidays. The ZSE All Share Index recovered 3.09% in the week under review and closed at 198,791.48pts with the gains ably anchored by the Top Ten Index which put on 4.58% and closed at 83,719.76pts. The Industrial Index shored up 3.11% week on week to end pegged at 638,917.06pts as demand continued to emerge across the board while, the Mid Cap Index rose 0.34% to 892,907.22pts.

Eighteen counters registered gains against eight fallers, while ten sailed stable, to leave the market with a positive market breadth of ten. Ecocash Holdings led the gainers of the week on a 29.84% surge that took it to $160.0000 while, banking group CBZ followed on a 15% rise to settle at $3,174.0000 on firming demand. Agricultural concern CFI rose 15% to end pegged at $2,185.0000 with CAFCA trailing after ticking up 14.97% to $3,345.0000. Ariston added 12.50% to $45.0000 as firming demand in SeedCo Limited helped push the seed producer higher up to $965.0000. Star Africa was 11.52% higher at $5.3364 while, Zimpapers added 5.43% to close the week at $34.0000, where supply could be found. Turnall Holdings added 5.26% to $40.0000 while, General Beltings gained 5.24% to $24.0000 and completed the top ten risers of the week.

Meikles led the losers of the holiday shortened week after succumbing 6.92% to $1,210.000 with brick manufacturers Willdale following on a 5.56% decline that took it $43.4442 on waning demand. First Mutual Holdings dropped 4.76% during the week to close at $1,000.0000 while, Dairibord eased 2.76% to end at $606.8015. FBC was 2.14% lower at $906.0500 while, property concern Mashonaland Holdings lost 1.05% to close the week at $141.5000. Retailer OKZIM closed at 190.0130 after a 0.10% slump while, Zimre Holdings Limited lost a negligible 0.05% to $184.4100.