EFE Securities •

3 weeks ago •

Weekly Reports

weekly report 26.04.2024

The ZSE recovered from prior weeks’ losses mainly driven by surging demand for selected heavies while, activity also began to soar up in the week under review as market players adjusted to the currency changes. The All-Share Index advanced 3.17% to end at 99.03pts while, the Blue-Chip Index was 4.29% higher at 98.89%, mainly driven by Delta and Ecocash. The Mid-Cap Index added 1.87% to settle at 104.23pts while, the segregated Industrials charged 3.14% to end at 98.89pts. Elsewhere, hotelier Rainbow Tourism Group released its FY23 results in which the group reported a PAT of $27.88bn and declared a dividend of US$0.000104 and ZIG$0.00071.

 The risers of the week were led by small cap counters with Star Africa topping on a 67.23% surge that took the sugar refiners to $0.0067, where supply could be found. First Mutual Properties followed on a 14.83% rise as it ended the week at $0.3185 while, Nampak was 14.38% higher at $0.5605 on retail demand. Delta Corporation found its way in the riser’s zone after rebounding 12.28% to settle at $7.0685, having traded an intra-week high of $7.5000. OK Zimbabwe added 12.28% week on week and closed at $0.5800 with Proplastics ticking up 9.62% and settled at $0.5700. Willdale was 9.56% firmer at $0.0550 while, Zimre Holdings Limited added 8.30% to close the week at $0.2805. Ecocash Holdings recovered 2.65% to end the week at $0.3090, having reached and intra-week high of $0.3105. AFDIS advanced 2.16% to settle at $2.2500 and completed the top ten risers of the week.

Overall, twelve counters rose against nine fallers while, five remained stable leaving the market with a negative breadth. SeedCo Limited headlined the losers of the week on a 28.68% retreat as it closed at $1.2837 while, Ariston followed on a 16.06% drop that took it to $0.0420 on waning demand. General Beltings lost 8.26% to $0.0500 while, Hippo Valley Estates eased 7.39% to settle at $3.5005, where demand could be found. Mashonaland Holdings was 6.98% down to $0.1400 while, CFI lost 5.48% to end at $1.3005. Heavy cap Econet was 5.20% down at $1.4500, having traded an intra-week low of $1.4000 on selling pressure. Turnall lost 2.22% to $0.0264 with Meikles dropping 0.68% and settling at $2.4512.