Heavies weigh down the market in the week under review…
The ZSE market faltered in the week under review as the All-Share index retreated 1.16% to 201.75pts on the back of losses in selected heavies. In the same vein the segregated industrial Index lost 1.13% to 201.58pts while, the Blue Chip Index was 2.40% weaker at 194.65pts as BAT, Econet, Hippo, SeedCo and Ecocash continued weaken during the week. On the contrary, the Mid Cap Index was 2.65% higher at 251.83pts as its constituents clinched eight spots in the risers list of the week. Elsewhere, NMB released its FY24 results today in which the banking group reported a profit after tax of ZWG42.80m and declared a dividend of US$0.0022.
The market ended the week with a positive breadth of two as fifteen counters recorded gains against thirteen that faltered. Cigarette manufacturer BAT led the laggards of the week on a 19.77% plunge to $87.0000 while, brick maker Willdale slipped 16.28% to $0.0318. Telecoms giant Econet trimmed 15.57% to settle at $2.9926 as a total 11.89m shares exchanged hands in the week under review. Hippo plunged 14.42% to $5.2785 while, seed producer SeedCo fell 13.89% to $3.3195. RioZim retreated 13.00% to settle at $08670 while, ART declined by 11.58% to $0.3005. Retailer OKZIM dipped 5.88% to close at $0.4000 while, milk processor Dairibord shed 5.56% to $1.7000. Ecocash completed the worst performers of the week on a 2.86% slid to end the day pegged at $0.1691. General Beltings headlined the top performers of the week on a 98.38% jump to $0.1195, followed by banking group ZB that charged 46.67% to $6.6000. FML added 29.41% to settle at $4.4000 while, Turnall firmed up 19.52% to $0.0600. TSL surged 14.29% to close at $2.4000 while, Star Africa went up 14.24% to close at $0.0400. Ariston stepped up 12.33% to $0.0566 as Mash Holdings closed 9.22% firmer at $1.1004. Banking group CBZ
Holdings ticked up 6.71% to $7.000 while, Tanganda capped the top ten list on a 4.01% uplift to end the week pegged at $1.0505.