A member of the Zimbabwe Stock Exchange
Daily Pricesheet
Written by EFE Research
Market recovers in the closing week of the month... The market reversed prior week losses to end the month of September in the black as demand in selected counters began to firm in the week under review. The All Share Index charged 9.66% to settle at 126,642.42pts while, the Blue-chip Index recorded double digit gains of 15.78% to close the week pegged at 56,560.21pts buoyed by improvements in Delta and SeedCo. The Industrial index garnered 9.62% to settle at 406,761.26pts while, Mid Cap Index eked out 0.52% to end the day pegged at 498,045.42pts. Meanwhile, OK Zimbabwe released the much-awaited FY23 results in which the Group reported a PAT of $5.20bn despite facingchallenges of wanning demand and high influx of informal markets.
The market rose in the month opening week, anchored by small to mid-cap counters that dominated the top ten gainers. All the four benchmark indices we review closed pointing northwards, the All-Share Index was up 3.69% at 131,311.22pts while, the Blue-chip Index gained 4.12% to end pegged at 58,887.93pts. The segregated Industrials grew 3.67% to 421,695.73pts while, the Mid Cap Index surged 3.73% to close at 516,621.42pts. Meanwhile, fintech group Ecocash released the results of the rights offer in which the public only subscribed for 35.45% of the rights, to let the underwriter pick the remaining chunk of 64.55%.
The market-maintained gains in the week under review despite constrained activity. All the four benchmark indices we review recorded decent gains during the week with the All Share Index notching up 5.57% to 138,620.74pts while, the Blue-Chip Index closed at 61,118.06pts following a 3.79% ascent. The Industrial Index advanced 5.55% to 445,080.54pts while, the Mid Cap Index was the biggest gainer amongst the indices as it edged up 9.60% to 566,226.72pts. Elsewhere, IMF has revised upwards its 2023 growth forecast for Zimbabwe to 4.1% from an earlier projection of 2.5%, on improved economic activity.
ZSE rally extended despite weakness seen in the last trading sessions of the week, as all the four benchmarks in our review closed in the black. The ZSE All share Index firmed 4.79% and closed at 145,265.26pts, bringing its year-to-date return to 645.19%. Constituents of the ZSE Top Ten Index were the major drivers of the market, spurring the index to 64,233.90pts on a 5.10% rise. Meanwhile, the Mid-Cap Index firmed 4.32% to close at 590,667.03pts while, the Industrial Index added 4.78% to record 466,366.32pts. Elsewhere, the local currency continued to lose ground against the greenback on the auction market, depreciating 0.61% for the week to see an average rate of ZWL$5,668.2204 as total aggregate of US$17.66m exchanged hands.
The market reversed prior week losses to end the month of September in the black as demand in selected counters began to firm in the week under review. The All Share Index charged 9.66% to settle at 126,642.42pts while, the Blue-chip Index recorded double digit gains of 15.78% to close the week pegged at 56,560.21pts buoyed by improvements in Delta and SeedCo. The Industrial index garnered 9.62% to settle at 406,761.26pts while, Mid Cap Index eked out 0.52% to end the day pegged at 498,045.42pts. Meanwhile, OK Zimbabwe released the much-awaited FY23 results in which the Group reported a PAT of $5.20bn despite facing challenges of wanning demand and high influx of informal markets
The market recorded modest gains in the week under review as the primary All-Share Index ticked up 2.80% to settle at 149,335.93pts, mainly anchored by medium cap counters whose Index jumped 4.16% to 615,239.63pts. The segregated Industrials advanced 2.82% to 479,531.51pts extending its YTD gains to 646.77% while, the ZSE Top 10 Index was 2.18% higher at 65,634.77pts. Meanwhile, Rainbow Tourism Group released its HY23 results in which the hotelier reported a PAT of $39.34bn. Elsewhere, the government has extended the use of foreign currency in Zimbabwe to 2030, through Statutory Instrument 218 of 2023.
The ZSE closed the week in the black as bulls raged on the market, with the benchmark All Share Index putting on 7.84% to close at 161,050.06pts. Driving the market were gains seen in heavies that spurred the Top Ten Index by8.99% to close pegged at 71,537.08pts. Meanwhile, the Industrial Index gained 7.90% week on week to 517,411.48pts as the Mid Cap Index put on 5.42% to settle at 648,559.23pts. Elsewhere, retailer OK Zimbabwe held its AGM during the week, in which management reported a 22.6% decrease in volumes for the half year period due to weak consumer demand primarily triggered by pricing mismatch between formal and informal retailers.
The ZSE extended its gains into the second week of November spurred by Heavy and Mid cap counters that recorded increased activity as reporting season ensues. The All Share and the Industrial Index garnered a similar 7.97% to see the former settle at 173,883.74pts and the latter at 558,671.89pts. The Blue-Chip Index was 7.09% firmer at 76,606.36pts mainly anchored by Delta and Econet while, the Mid Cap Index gained the most among the indices we review as it charged 9.95% to close the week pegged at 713,116.49pts. Meanwhile, the top capitalised counter Delta reported an impressive set of results for the interim period to 30 September 2023 as they posted a profit of $338.78bn and declared an interim dividend of US 1cent.
