A member of the Zimbabwe Stock Exchange
Daily Pricesheet
EFE Securities Year to Year Financial Statements
Heavy and mid cap counters weighed on the market in the week under review as all the Indices we review closed in the red. The All Share Index was 2.59% weaker at 208.36pts while, the segregated Industrials fell by 2.61% to settle at 208.10pts. The Blue chip Index was 2.70% lower at 206.60pts mainly weighed down by Hippo and Econet while, the Mid Cap Index retreated 2.59% to 240.23pts. Elsewhere, the proposed merger between CBZ Holdings Limited and ZB Financial Holdings Limited, meant to create Zimbabwe’s largest financial institution, is on the verge of collapse following the imposition of stringent conditions precedent by the Competition and Tariff Commission.
Written by EFE Research
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.
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.
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 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.
The ZSE market rebounded in the week under review, mainly anchored by heavy and mid counters that recovered from prior week’s losses. The All-Share Index was 0.68% up at 94.65pts while, the segregated Industrials rose 0.69% to end pegged at 94.45pts.
The ZSE recovered from prior weeks’ losses mainly driven by surging demand for selected heavies while, activity also began to soar up in the week under review as market players adjusted to the currency changes.
Thin trades coupled with waning demand weighed down the ZSE in the week under review as the uncertainty surrounding the introduction of Zig continued to mount.
Activity faltered on the market in the week under review as scrappy 192,000 shares were traded, distributed into ten counters.
The nation saw the appointment of the new governor in the week under review, who came in and made sweeping changes in terms of currency.
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 ZSE closed the week in the black as bulls raged on the market, with the benchmark All Share Index putting on 35.90% for the week to close at 584,266.23pts.
