The ZSE closed the week in the black as bulls raged on the market, with the benchmark All Share Index putting on 2.83% for the week to close at 197,660.65pts. Driving the market gains was a bullish run in the middle weight counters that spurred the Mid Cap Index to a 4.32% rise to close pegged at 870,872.87pts. Meanwhile, the Industrial Index gained 2.85% week on week to 635,259.92pts as the Top Ten Index inched up 2.10% to settle at 84,065.54pts, despite losses in Delta and Econet. Elsewhere, Reserve Bank of Zimbabwe latest figures shows that diaspora remittances stood at US$1.47bn as at 31 October 2023 which was 15.57% of the total foreign currency inflows of US$9.44 billion. This makes diaspora remittances the second biggest foreign currency generator after exports.
le manufacturers CAFCA led the weekly risers on a 32.25% surge that took it to $2,909.5000 as FMP followed after ticking up 31.43% to reach an all-time high of $276.0000. The duo of banking groups in CBZ and NMB were found in the gainer’s zone, rising 27.20% and 16.51% to settle at $2,756.9408 and $577.3000 respectively. Zimre Holdings Limited added 13.83% to $182.1341 while, Fidelity continued with its trajectory route after firming up a further 13.53% to close at $235.0000, albeit on scrappy shares. AFDIS was 13.04% higher at $2,600.0000 with Zimpapers trailing on a 12% rise to close at $28.0000. Turnall ticked up 4.42% to $26.0000 while, General Beltings added 3.64% to settle at $22.8000.
Overall, sixteen counters recorded gains against eleven fallers while, six remained stable. Leading the faller’s list was seed producer SeedCo Limited that succumbed 11.32% to settle at $860.0000 with Edgars following on a 8% drop that took it to $92.0000 on waning demand. FBC Bank lost 5.45% to $955.0000, where demand could be found. Tanganda declined 4.20% to close at $958.0000 with telecoms giant Econet trailing on a 1.05% leap to $721.5546 on selling pressure. Delta eased 0.64% to $3,499.5109 as small cap counter Star Africa lost 0.61% to $4.7987. Proplastics was 0.17% down at $605.0000.BAT traded 0.08% lower at $12,984.6154 as it continued to lose its glitter. Milk processor Dairibord lost 0.03% close the week lower at $624.0000.