EFE Securities •

5 months ago •

Weekly Reports

WEEKLY REVIEW 01.12.2023

The ZSE capped the final week of November and began the first session of December in gains as the market sustained the rising momentum in the week under review. The All Share Index gained 6.04% to 192,223.42pts. The Blue Chip Index was 7.90% firmer at 82,335.38pts anchored mainly by Seedco, Delta and RTG while, the segregated Industrials were up 6.10% to settle at 617,682.33pts. The Mid Cap Index advanced 2.48% to close pegged at 834,813.78pts. The much-awaited fiscal policy announcement failed to live up to its billing as government seemingly skirted key issues of electricity generation and currency policies leaving the economy at the mercy of multiple pricing. Amongst the highlights of the 2023 fiscal policy themed “consolidating economic transformation” was a forecast GDP growth of 3.5%, though government’s sincerity to curtail spending remains a doubt after projecting a budget deficit of $4.9trn.