EFE Securities •

11 months ago •

Weekly Reports

WEEKLY REVIEW 24.11.2023

The ZSE market continued to trek northwards in the final full week of the month on the backdrop of surging midcap counters. The Mid cap Index charged 8.82% to end at 814,589.67pts while, the All-Share Index added 2.19% to 181,272.70pts. The Industrial Index was up 2.18% to close at 582,163.07pts. The ZSE Top Ten Index was the lone faller amongst the indices that we review as it receded 1.02% to 76,303.61pts dragged down mainly by weakening demand in Delta, CBZ and BAT. Elsewhere, Econet released their HY24 results in which PAT ballooned 422% to $63.66bn as volume of voice and data grew by 24% and 25% respectively. However, no dividend was declared for the period.  Price movements were seen in thirty-two counters disseminated into nineteen gainers and thirteen fallers to leave the market with a positive weekly breadth of six. First Mutual Properties headlined the winners of the week after a 22.35% surge to end at $208.0000. General Beltings garnered 20.36% week on week to close at $22.3273 while, Zimre holdings jumped 19.23% to settle at $155.0000. Agriculture concern Ariston leapt 18.03% to $36.0000 as SeedCo Limited charged 14.56% to close at its weekly high of $842.000. Zimplow hopped 13.63% to end at $25.0000 as TSL edged up 13.46% to land at $1,197.0000. Cable manufacturer Cafca went up 10.80% to $2,437.5000 while, bankers NMB gained 10.53% to close at $470.0300. Econet capped the top ten risers of the week on a 7.56% climb to $700.5555.

Decliners of the week were led by packaging group Nampak that dipped 10.58% to $299.5000 followed by Delta that plummeted 5.50% to $3,120.4943 on wanning demand. CFI trimmed 5.00% to close at $1,900.000 on scrappy shares while, RTG and CBZ shed a similar 3.44% fall to close at $138.6806 and $2,100.0000 apiece. Financial services group ZB reversed prior week gains to close 3.41% lower at $850.0000. Cigarette manufacturer BAT slipped 2.62% to end at its weekly low of $12,999.9567 while, Star Africa eased 1.06% to $4.8825. Apparel retailer Truworths let go 0.57% to end at $37.7830 as Proplastics held the tenth position on the fallers’ table after a 0.18% retreat to $608.8927.