EFE Securities •
10 months ago •
Weekly Reports
WEEKLY REPORT 02.05.2025
Gains in heavy cap counters anchored the market in the holiday shortened week, as the All Share Index gained 2.30% to 191.17pts. In the same vein, the Industrial Index rose by 2.31% to settle at 191.03pts narrowing its YTD losses to 12.12%. The Blue Chip Index was 3.70% firmer at 185.42% on the back of gains in BAT, Econet, FBC, CBZ and NMB while, on the Contrary the Mid Cap Index was 1.64% weaker at 234.95pts. Elsewhere, construction firm, Turnall Holdings Limited, widened its loss-making position to US$2.92m for its financial year ended December 31, 2024, owing to an increase in inflation-driven operating expense.
BAT led the risers of the week on an 38.47% surge that took the tobacco processor to $115.2860 while, Econet followed on a 10.62% rebound as it settled at $2.9841, having traded a high of $3.0000 in the last session of the week. Ecocash Holdings was 3.12% firmer at $0.1299, albeit on selling pressure while, Willdale Limited added 0.48% to settle at $0.0400. Banking group FBC ticked up 0.40% to $7.5400 while, Art Corporation Limited rose 0.23% to $0.2215 where demand could be established. Dairibord was 0.06% higher at $1.7235 with retailer OK Zimbabwe adding 0.01% to end pegged at $0.3450 as it completed the risers’ list of the week.
Leading the losers of the week was Star Africa which succumbed 49.47% to close at $0.0200 while, Ariston followed after dropping 22.24% to end at $0.0451. Tanganda lost 14.52% to $0.8570 in the last session of the week as demand continued to wane. Proplastics was 13.76% down at $0.8193 while, Zimre Holdings Limited trimmed 10.59% to $0.1753 with cable manufacturers CAFCA retreating 9.09% to $19.9996 where demand could be established. General Beltings Limited lost 7.95% to $0.1100 while, top capitalised counter Delta reversedprior week gains on a 5.13% drop that took it to $13.1700. Banking group ZB Financial Holdings eased 3.51% to $5.5000 with Unifreight completing the top ten risers on a 2.83% loss to $1.8000.