EFE Securities •

2 weeks ago •

Weekly Reports

WEEKLY REPORT 30.05.2024

The ZSE market capped the week in the black as three of the four indices we review closed pointing northwards. The All Share Index advanced 1.18% to settle at 196.85pts while, the Industrial Index also rose by a similar 1.18% to 196.70pts. The Blue-Chip Index was 1.62% firmer at 189.81pts mainly anchored by gains in FML, Econet and 
Delta while, on the contrary the Mid Cap Index lost 0.09% to end pegged at 246.15pts. Elsewhere, Nampak 
released its HY25 results in which profit after tax fell by 7.68% to US$2.88m and did not declare a dividend for 
the period.

Leading the risers of the week was plastic manufacturers Proplastics that’s went up 34.10% to end at $1.2740. 
Mashonaland Holdings was 22.02% higher at $1.3087 where supply could be found. TSL Limited added 11.54% 
to $2.9000 as Tanganda ticked up 7.24% week on week to close at $1.0000. Insurer FML went up 5.95% to settle at $4.1321 while, banking group ZB Financial Holdings advanced 5.26% to $4.0000. Ecocash Holdings was 5.15% firmer at $0.1375 while, Econet recovered 3.44% to $2.9745. Top capitalised counter Delta ticked up 0.18% 
that took the beverages group to $13.5015 on firming demand. Completing the top ten risers of the week was 
AFDIS which rose 0.15% to $6.8100. Overall, twelve counters traded in the positive during the week against fifteen fallers, while two remained unchanged, to leave the market with a negative breadth of three. Headlining the losers’ set was agriculture concern Ariston which rolled back to $0.0481 on a 15.91% plunge. Retailer OKZim followed after trimming 14.76% to $0.3093 while, ART dropped 13.45% to $0.1701. SeedCo Limited eased 8.25% to $2.9546, where demand could be established. Sugar refiners Star Africa was 7.32% down at $0.0578 with Dairibord easing 2.94% to $1.6500. Zimre Holdings Limited registered a cumulative 2.60% loss as it settled at $0.3500 while, banking group CBZ surrendered 2.51% week on week to trade at $7.0000. BAT declined 1.00% to $99.0000 on the back of selling pressure.