ZSE maintains an upward trajectory

27 Dec, 2020 - 00:12 0 Views
ZSE maintains an upward trajectory The ZSE Top 10 Index jumped 6,75 percent as the market’s heavies enjoyed a bull run

The Sunday Mail

Enacy Mapakame

The Zimbabwe Stock Exchange (ZSE) maintained an upward trajectory in a holiday-shortened week that saw all the benchmark indicators close pointing northwards.

The ZSE was closed for a public holiday on December 22.

During the week to Wednesday, the primary indicator, the ZSE All Share Index rose 6,89 percent to close at 2 215 points compared to 2 072 points recorded in the previous week.

The ZSE Top 10 Index jumped 6,75 percent to close pegged at 1 426 points as the market’s heavies enjoyed a bull run.

At 1 648 points, the ZSE Top 15 Index was 5,5 percent above prior week level while the Medium Cap Index paced the fastest with a 7,3 percent gain to 4 478 points. The Small-Cap Index increased by 3,52 percent to close at 10 543 points.

Total market value jumped 6,8 percent to $267,5 billion from $250 billion recorded in the prior week, reflecting gains recorded across board.

Nampak headlined risers for the week with a 49 percent increase to $1,87 while TSL rose by 38 percent to $12. Sugar processor — Hippo advanced 26 percent to $76 while Fidelity put on 25 percent to $1,90. The market’s biggest counter by value, CBZ ticked 23 percent to $67,14 from $54,38 to wrap up the week’s top five risers.

Other gains were recorded in FML which put on 21 percent to $8 while Dawn, Proplastics and Unifreight rose by 20 percent each to 72 cents, $6,63 and 18,6 cents respectively.

On the resources side, both the active mining counters recorded gains with Bindura rising by 12 percent to $3,42 while RioZim put on 7 percent to 12 cents.

Agriculture concern, Ariston was 3,8 percent above prior week to $1,24 as the firm projects improved export earnings driven by an anticipated increase in yields.

Further gains were offset by losses recorded in property firm, Mashonaland Holdings which eased 22 percent to 69,37 cents followed by banking group FCB that went down by the same margin to close pegged at 69,28 cents.

Cigarette manufacturer — BAT — fell 18 percent to $333,92 while seed maker — Seed Co gave up 17 percent to close pegged at $18,05.

Diversified crocodile breeder, Padenga wrapped the week’s top five fallers with a 9 percent decline to $18,06.

Other losses were recorded in Art which let go of 5 percent to $4 while FBC lost 2 percent to $14,50. The duo of Star Africa and ZHL went down by 0,9 percent each to settle at 26,5 cents and $2,57.

Lafarge, Meikles and National Foods remained unchanged $8, $17,84 and $60,10 in that order. Also remaining flat were Turnall, Zimpapers and General Beltings that were pegged at 78 cents, 85 cents and 17 cents respectively.

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