EFE Securities •

9 months ago •

Weekly Reports

weekly report 28.03.2024

The ZSE extended its gains into the last week of March spurred by gains in the heavy and mid cap counters across the board as the reporting season ensued.  The All-Share Index advanced 15.77% to settle at 873,263.38pts, mainly anchored by the Blue-Chip Index that notched up 16.06% to settle at 398,030.12pts. The segregated Industrials charged 15.80% to settle at 2,786,410.40pts while, the Mid Cap Index was 9.98% higher at 3,176,588.02pts. Currency issues remained topical in the week under review as the local Zimbabwean component lost value by approximately 2% on daily basis. Elsewhere, Proplastics released FY23 results in which they reported a PAT of US$519,877, representing a 216% surge from prior comparable period.

NMB Bank led the risers set of the week on a 41.47% to $3,427.0500 while, Willdale followed after ticking up 37.64% to settle at $98.0000 on retail demand. Dairibord was 35.37% higher $2,978.2136 as  demand continued to firm up in the milk processor. Econet added 33.80% week on week to close at $4,670.1901, where supply could be found.   SeedCo Limited went up  33.62% to close at $3,439.0496 with insurer Fidelity rising 32.11% to settle at $945.0000. Hippo Valley was 30.86% firmer at $7,590.0000 as Tanganda rose 27.86% to end pegged at $5,114.5263 on firming demand. British American Tobacco ticked up 25.35% to end the week at an all-time high of $61,220.9600. FBC Holdings added 24.25% to settle at $4,100.0000 as it completed the top ten gainers of the week.

Overall, the market recorded a wide positive breadth of twenty-five as twenty-nine counters registered gains against four that went down while, three remained stable. Leading the losers of the day was 5.74% to end at $65.9755 while, Star Africa trailed on a 0.69% to trade at $14.9029. Banking group CBZ reversed previous gains as it closed at $10,000.0000. Proplastics lost a negligible 0.02% to close at $1,293.7530, where demand could be found.