EFE Securities •

3 weeks ago •

Weekly Reports

WEEKLY REPORT 23.05.2024

The ZSE market extended its gains into the fourth week of May despite constrained liquidity being witnessed across the board, with decent activity mainly being recorded in selected blue-chip counters. The All-Share Index advanced 0.83% to 194.56pts while, the segregated Industrials rose by a similar 0.83% to settle at 194.41pts. The Top 10 Index added 0.50% to 186.78pts mainly anchored by gains in Econet while, the Mid Cap Index garnered 1.80% to 246.38pts. Elsewhere, EcoCash Holdings Zimbabwe Limited published a circular to its shareholders advising them on the intention to change its name to TN CyberTech Investments Holdings Limited. 

A positive market breath of eleven was registered as nineteen counters traded in the positive week on week against eight fallers. Headlining the risers set of the week was Star Africa which rose 63.24% to close at $0.0624 with Zimre Holdings Limited featuring on the gainers list for the second consecutive week after putting on 25.87% to close at $0.3594. Turnall Holdings Limited was 16.67% firmer at $0.070 while, Proplastics ticked up 11.76% as it closed at $0.9500, where supply could be found. First Mutual Properties added 7.79% to $1.2935 with OKZim advancing 7.58% to settle at $0.3629. Seed producer SeedCo Limited rose 7.34% as it closed at $3.2203 while, Tanganda added 7.06% to end pegged at $0.9325. Heavy Cap Econet Wireless was 4.95% higher at $2.8757 on the back of firming demand while, Afdis added 3.03% to settle at $6.8000. Leading the losers of the week was banking group ZB which succumbed 30.91% week on week to see it ending at $3.8000. Zimpapers followed on a 26.62% decline that took it to $0.1130 where demand could be found. BAT lost 9.54% to close at $100.0000 while, agricultural concern Ariston trimmed 4.67% to settle at $0.0572 on waning demand. Masimba Holdings Limited retreated 1.38% to close at $3.5500 with Dairibord Zimbabwe Limited dropping 0.58% to close the week at $1.7000 on weakening demand. First Mutual Limited was 0.26% lower to close the week at $3.9000 while top capitalised stock Delta eased 0.11% to settle at $13.4773.