logo

A member of the Zimbabwe Stock Exchange

  • Home
  • About
  • Services
  • Pricesheet
  • Indices
  • Events
  • Blog
  • Companies
  • Research
  • Contact
  • Home

Research - Market Commentary

Daily Reports

More details
Market Commentary

More details
Company Papers

More details
Weekly Reports

More details
Monthly Reports

More details
Quarterly Reports

More details
Other Reports

More details
Pricesheet

Daily Pricesheet

More details
EFE Securities Financial Statements

EFE Securities Year to Year Financial Statements

More details

MARKET COMMENT 23.09.2026

author-image

Marginal gains in midweek session… The ZSE market recorded marginal gains in the midweek session as the primary All Share Index rose 0.04% to 454.58pts while, the Blue Chip Index added 0.54% to 446.97pts. In contrast, the Agriculture Index fell 0.84% to 307.11pts while, the Mid Cap Index lost 1.53% to 518.07pts. ZSE Holdings headlined the best performers of the day on a 13.01% jump to $3.8451, followed by General Beltings which firmed up 6.75% to $0.0925. Ariston went up 4.90% to close at $0.0592 while, SeedCo inched up 2.73% to $4.2182. Nampak capped the best performers of the day on a 2.18% uplift to end the day pegged at $0.8179. Trading in the negative territory was ZHL that dropped 14.91% to $0.8509 while, tea producer Tanganda came off 6.79% to $3.1962. Star Africa tumbled 5.25% to $0.0617 while, TN Cybertech eased 1.28% to $0.5570. FML completed the worst performers of the day on a 1.20% dip to end at $3.2800.

Written by EFE Research

MARKET COMMENT 22.09.2026

author-image

CFI highlights Tuesday’s session… The block trade in CFI highlighted the session as circa 13.64m shares worth circa $103.01m exchanged hands. The trade claimed 90.53% of the total volumes traded and 92.25% of the turnover. Activity aggregates enhanced in the session as turnover surged 2,108.40% to $111.67m while, volumes traded ballooned 247.35% to 15.07m shares. In the ETF category, MIZ ETF was 0.19% weaker at $0.1181 as 10,100 units traded in the name. In the REIT category, the Tigere REIT was 8.11% weaker at $1.0564 while, the Revitus REIT was 6.21% down to close trading $2.0000 on scrappy 200 shares.

Written by EFE Research

MARKET COMMENT 21.09.2026

author-image

ZSE record gains in week opener… The ZSE market recorded gains in the week opening session as the primary All Share Index put on 0.22% to 453.95pts while, the Blue-Chip Index added 0.05% to 444.59pts. The Mid Cap Index firmed up 0.88% to 525.18pts while, the Agriculture Index lost 0.01% to 309.77pts. Star Africa headlined the top performers of the day on a 13.88% jump to $0.0626, followed by TN Cybertech that shot up 7.26% to $0.5500. Brick maker Willdale inched up 7.17% to $0.0701 while, Mashonaland Holdings added 5.94% to $1.5500. Banking group CBZ Holdings capped the best performers of the day on a 1.21% uplift to end at $38.8915. Trading in the negative territory was FBC Holdings that dropped 3.08% to $13.0833 while, Ariston came off 2.67% to $0.0602. Banking group NMB eased 2.50% to settle at $6.6395 while, seed producer SeedCo fell 0.08% to $4.2695.

Written by EFE Research

WEEKLY REVIEW 18.09.2026

author-image

The ZSE market continued to record losses week-on-week, driven by reduced market participation and heightened selling interest witnessed in selected counters. The All-Share Index was 0.07% weaker at 452.95pts while, the Industrial Index closed with a near similar 0.06% drop to end the week pegged at 444.49pts. The Blue-Chip Index was 0.55% softer at 444.38pts, mainly weighed down by Mashonaland Holdings, Dairibord, SeedCo and ZSE. On the contrary, the Mid Cap Index was 1.81% firmer at 520.62pts after extending its YTD gains to 87.17%. Elsewhere, Zimbabwe’s gold deliveries reached 5.11 tonnes in August 2026, following a 20.68% increase compared to 4.24 tonnes recorded during the same period in August 2025.

Written by EFE Research

MARKET COMMENTARY 08.09.2026

author-image

ZSE falters 1.53% in Tuesday’s trades… Heavies continued to drag the ZSE market into losses in Tuesday’s trades as three of the four Indices we review closed in the red. The All Share Index was 1.53% weaker at 446.09pts while, the Blue-Chip Index was 2.07% lower mainly on the back of losses in Delta, Masimba and CBZ. The Agriculture Index was 0.04% weaker at 332.84pts while, on the contrary the Mid Cap Index was 0.70% higher at 498.85pts. Beverages’ producer Delta continued to lose ground as it plunged 4.25% to $26.7227 on the back of selling pressure, trailed by Meikles that parred off 4.00% to $2.4000. Construction group Masimba was 1.04% down at $2.3000 while, banking group CBZ dropped 0.96% to settle at $39.0000. Ariston capped the top five laggards’ list on a 0.45% drop to $0.0500. Trading in the positive category was Zimre that charged 7.16% to $0.7501 while, bankers TNCI rose by 6.46% to $0.3731. Life assurer Fidelity ended the day pegged at $0.9300 following a 1.09% ascent while, Willdale was 0.28% higher at $0.0704. Bankers FBC fastened the top five risers’ list of the day on a 0.16% addition to $13.4550.

Written by EFE Research

MARKET COMMENT 07.09.2026

author-image

Losses persist into the new week… The market continued to falter in the first session of the week as the mainstream All Share Index lost a further 1.31% to 453pts while, the Blue Chips Index declined 1.41% to 450.13pts. The ZSE Agriculture Index shed 1.68% to end at 332.97pts while, the Mid Cap Index was 0.89% down to 495.37pts. Tea company Tanganda led the losers of the day after a 14.77% dip that took it to $3.5200. Following was hotelier RTG that dropped 13.72% to $1.4203 as Delta beverages succumbed 1.75% to settle at $27.9079. Brick makers Willdale retreated 1.70% to $0.0702 while, Mashonaland Holdings slid 0.89% to $1.6700. Partially mitigating today’s losses was SeedCo Limited that surged 7.53% to $4.5000. TN Cybertech rose 2.92% to $0.3505 as Star Africa added 1.28% to $0.0502. Zimre Holdings grew 0.30% to $0.7000 while, banking group FBC was 0.17% firmer at $13.4340.

Written by EFE Research

MARKET COMMENT 04.09.2026

author-image

ZSE concludes the week in losses… The market concluded the week in losses as CBZ and Delta weighed on the ZSE. The primary All Share Index declined 1.49% to close at 459.01pts while, the ZSE Top Ten Index trimmed 2.06% to 456.55pts. The ZSE Agriculture Index rose 0.53% to end at 338.66pts while, the Mid Cap Index edged up 0.91% to 499.84pts. ZSE Holdings was the major casualty of the day, having dropped 6.63% to close at $3.5482 while, banking group CBZ slid 4.47% to $39.3773. Beverages concern Delta went down 1.87% to $28.4057 while, Mashonaland Holdings retreated 0.88% to $1.6850. Tea company Tanganda completed the top five shakers of the day on a 0.48% loss to close at $4.1300. Partially offsetting today’s losses was Star Africa that surged 10.08% to $0.0496, trailing was TN Cybertech bank that advanced 9.51% to $0.3405. Milk processor Dairibord grew 4.22% to $6.0000 as brick maker Willdale added 1.16% to $0.0714. Agriculture concern Ariston completed the top five risers’ list on a 0.69% uplift to $0.0502.

Written by EFE Research

MARKET COMMENT 31.08.2026

author-image

Market ends the month on a positive note… The ZSE market ended the month of August on a positive note as selected heavies anchored the market. The mainstream All Share Index grew 2.34% to close at 477.39pts, while the ZSE Top Ten Index added 2.95% to 480.09pts. ZSE Agriculture Index retreated 0.36% to 344.23pts while, Mid Cap Index went down 0.20% to 496.23pts. Banking group CBZ charged 13.04% to close at $38.9995 while, Proplastics jumped 12.50% to $1.3500. Turnall surged 11.38% to $0.1393 while, Mashonaland Holdings advanced 8.83% to $1.7023. Hippo capped the top five winners of the day on a 4.58% uplift to $11.0000. General Beltings was the major casualty of the day having declined 14.98% to settle at $0.0880, followed by Unifreight that dropped 13.04% to end at $2.00000. Willdale shed 9.09% to $0.0700 as SeedCo Limited trimmed 9.05% to $4.9600. Meikles held the fifth position of the fallers’ table on a 3.07% drop to $2.4232.

Written by EFE Research

MARKET COMMENT 28.08.2026

author-image

ZSE records losses in penultimate session… The ZSE market recorded losses in the penultimate session of the month as the primary All Share Index lost 2.25% to 466.46pts while, the Blue Chip Index fell 3.11% to 466.35pts. Contrastingly, the ZSE Agriculture Index put on 0.77% to 345.46pts while, the Mid Cap Index firmed up 1.49% to 497.21pts. Packaging group Nampak led the laggards of the day on a 13.75% dip to $0.8625 while, banking group CBZ Holdings dropped 13.64% to $34.5000. Ariston slipped 11.25% to close at $0.0533 while, NMB tumbled 4.03% to $5.9500. Sugar processor Hippo completed the worst performers of the day on a 2.16% retreat to $10.5179. Partially mitigating today’s losses was ZHL that jumped 12.77%, followed by Dairibord that charged 11.11% to $5.0000. Brick maker Willdale inched up 5.67% to $0.0770 while, TN Cybertech ticked up 4.71% to $0.3000. ZSE Holdings capped the best performers of the day on a 3.66% uplift to $2.8011.

Written by EFE Research

MARKET COMMENT 27.08.2026

author-image

ZSE slips into the red… The ZSE market slipped into the red in midweek session as the mainstream All Share Index trimmed 0.71% to 477.75pts while, the Blue Chip Index slid 0.40% to 482.47pts. The Agriculture Index retreated 1.22% to 337.98pts while, the Mid Cap Index parred off 2.03% to 487.66pts. TN Cybertech was major casualty of the day having declined 14.97% to close at $0.2776 on 42.55m shares. Following was Zimre Holdings that lost 14.52% to close at $0.7800 as General Beltings shed 14.29% to $0.0900. Mashonaland Holdings eased 7.97% to end pegged at $1.5641 while, agriculture concern Ariston let go 7.22% to $0.0600. ZSE Holdings led the winners of the day on a 14.80% surge to $2.8700 while, Masimba Holdings edged up 13.04% to settle at $2.6000. Brick makers Willdale gained 5.74% to $0.0702 while, milk processor Dairibord added 0.19% to settle at $3.9600. Meikles ticked up 0.14% to close the day at $2.4992. Volume of shares traded ballooned 1,589.63% to 45.61m while, turnover jumped 51.92% to $82.63m. TN Cybertech was the top volume driver of the day having claimed a hefty 93.30% of the aggregate. Anchoring the value aggregate of the day was CBZ (43.36%), Delta (41.04%) and TNCI (14.30%). The Cass Saddle ETF and the Datvest MCS were unchanged at $0.1200 and $0.0800 respectively as a cumulative of 6,008 units exchanged hands. The Tigere REIT tumbled 2.18% to end the day pegged at $1.0949 on 18,285 units.

Written by EFE Research

MARKET COMMENT 25.08.2026

author-image

ZSE extend gains… The ZSE market extended gains as the primary All Share Index added 0.66% to 481.17pts while, the Blue Chip Index rose 0.72% to 484.41pts. The Agriculture Index put on 0.13% to 342.15pts while, the Mid Cap Index ticked up 0.42% to 497.77pts. Life assurer Fidelity led the top performers of the day on a 14.29% jump to $0.9200, followed by TN Cybertech that advanced 6.30% to $0.3265. Proplastics firmed up 3.67% to close at $1.2000 while, financial services group ZB went up 2.71% to $7.0000. Meikles capped the best top five performers of the day on a 2.60% uplift to $2.4958. Trading in the negative territory was Ariston that fell 12.02% to $0.0647 while, Star Africa dropped 6.65% to $0.0400. ZHL came off 3.92% to close at $0.9125 while, RTG slipped 2.09% to $1.5861. ZSE Holdings completed the shakers of the day on a 0.78% retreat to $2.5000.

Written by EFE Research

MARKET COMMENT 24.08.2026

author-image

ZSE commences new week in gains… The market commenced the new week in gains as the mainstream All Share Index inched up 0.65% to 478pts while, ZSE Top Ten Index rose 0.71% to 480.96pts. The Mid Cap Index was 0.39% up at 495.70pts while, ZSE Agriculture Index retreated 0.06% to 341.69pts. Mining house RioZim surged 14.96% to settle at $0.9800 while, Star Africa jumped 9.81% to $0.0429. ART enhanced 9.09% to $0.2400 as cable manufacturer CAFCA recovered 6.16% to $25.0000. Beverages concern Delta improved 1.64% to end the day at $31.4677. Agriculture concern Ariston lost 2.00% to settle at $0.0735, trailed by TNCI that parred off 1.08% to land at $0.3071. Meikles shed 0.96% to end pegged at $2.4325 as tea company Tanganda trimmed 0.22% to $4.4900. Seed manufacturer SeedCo dropped 0.01% to $5.6395. The Morgan and Co MIZ retreated 1.00% to end at $0.1200 on 2,900 units.

Written by EFE Research

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • ...
  • 222
  • 223

Instruments
  • StockPopular
  • Indexes
  • ETFsNew
  • Bonds
Analytics
  • Pricesheet
  • Daily Market Commentaries
  • CompaniesNew
  • Blog
Services
  • Trading
  • Research Services
  • Advisory Services
  • Sponsorship Brokership
Facebook
Twitter

  • Risk disclosure
  • Privacy policy
  • EFE policy

© 2026 EFE Securities. All Rights Reserved.

footer-payment footer-payment