A member of the Zimbabwe Stock Exchange
Daily Pricesheet
The ZSE market recorded marginal gains in the week under review as three of the four indices we review closed pointing northwards. The All-Share Index rose by a negligible 0.03% to close at 200.54pts while, the Industrial Index was 0.02% up at 200.17pts. The Blue-Chip Index was 0.85% firmer at 209.29pts, mainly anchored by gains in Ecocash and Econet while, on the contrary the Mid Cap Index was the only loser amongst the indices as it dropped 2.69% to end pegged at 166.99pts. Elsewhere, financial services CBZ released its HY24 results in which the group reported a profit for the period of ZWG$656.29m.
Written by EFE Research
Demand for selected counters in the Top 10 Index drove market momentum in the week under review to see all the Indices we review close at all-time highs. The demand emanated from increased liquidity in the economy which has caused parallel exchange rates to skyrocket, and this has resulted in excess funds being channelled into the market as economic agents search for value preservation. The All-Share Index and the segregated Industrials rose by a similar 28.15% to settle at 257.00pts and 256.52pts respectively. The Blue-Chip Index was 35.88% firmer at 284.39pts as its constituents claimed six spots in the top ten risers’ list of the week while, the Mid Cap Index advanced 6.05% to 177.09pts.
The ZSE market buttressed prior week’s gains, mainly anchored by the Mid Cap Index as its constituents experienced increased demand in the week under review. The All Share Index was 0.80% firmer at 259.05pts while, the segregated Industrials added 0.26% to end at 257.19pts. The Mid Cap Index recorded double digit gains as it surged 12.35% to close at 198.96pts while, the Blue-chip Index dropped 1.65% to settle at 279.69pts mainly weighed down by Ecocash, Delta, CBZ and Econet. Financial companies continued to report on their half year performances with, FBC recording a PAT of ZWG$631.24m which was 58% lower from prior comparable period. In the same vein, the banking outfit declared a dividend of US0.25cents per share.
The ZSE recovered in the new month of October to see the mainstream All Share Index rebounding 3.30% to 252.81pts while, the Top Ten Index rose 3.59% to 271.77pts, mainly driven by the duo of banking groups in CBZ and NMB. The segregated Industrial Index charged 3.32% to end the week at 252.49pts while, the Mid Cap Index ticked up 10.41% to 211.82pts. Elsewhere, half year results for companies continued to trickle in during the week under review with Fidelity registering a PAT increase of 135% to USD$5.2m while, Turnall recorded a loss of USD$1.19m which was a 90.1% increase from prior comparable period.
