The ZSE closed the week in the black as bulls raged on the market, with the benchmark All Share Index putting on 7.84% to close at 161,050.06pts. Driving the market were gains seen in heavies that spurred the Top Ten Index by8.99% to close pegged at 71,537.08pts. Meanwhile, the Industrial Index gained 7.90% week on week to 517,411.48pts as the Mid Cap Index put on 5.42% to settle at 648,559.23pts. Elsewhere, retailer OK Zimbabwe held its AGM during the week, in which management reported a 22.6% decrease in volumes for the half year period due to weak consumer demand primarily triggered by pricing mismatch between formal and informal retailers.
Headlining the risers of the week was a small cap counter General Beltings that surged 51.94% to close at $17.2500. Following was banking group NMB which ticked up 33.16% to settle at $399.5501, where supply could be found. Zimre Holdings Limited rose 23.90% to end the week at $123.9000 with heavy cap Delta trailing after putting on a hefty 18.45% that took its price to $3,087.4090, having traded a high of $3,200 in the last session of the week. African Distillers rose 14.99% to $2,000.1500 while, TSL added a similar 14.99% to end the week at $595.5500, albeit on scrappy shares. Art Corporation firmed up 14.58% to $55.0000 with brick manufacturer Willdale adding 14.57% to settle at $23.7157. Milk processor Dairibord advanced 13.45% to $539.9500 while, Mashonaland Holdings completed the top ten riser’s set on a 11.63% lift to $140.0000.
Overall, twenty-three counters registered against ten fallers while, three remained stable, as the market recorded a positive breadth. Edgars led the losers of the week after succumbing 11.90% to $84.0083, as the apparel retailer announced changes to its top management. CFI Holdings lost 9.10% to settle at $2,000.0000 while, conglomerate Meikles declined 4.49% to close the week at $954.9153. Rainbow Tourism Group eased 3.70% to close at $130.0000 while, BAT dropped 3.54% to settle at $13,500.0000 where demand could be found. Star Africa dropped 2.46% to $4.8536 with banking group FBC sliding 1.55% as it settled at $745.0000 on waning demand. Selling pressure in Ecocash Holdings helped drag the Fintech group lower to $137.0000 after a 0.72% loss during the week. Packaging group Nampak was 0.40% lower at $335.2284 while, FML lost a negligible 0.05% to $584.7297 as it completed the top ten losers’ list of the week.