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EFE Securities Year to Year Financial Statements
Demand for selected counters in the Top 10 Index drove market momentum in the week under review to see all the Indices we review close at all-time highs. The demand emanated from increased liquidity in the economy which has caused parallel exchange rates to skyrocket, and this has resulted in excess funds being channelled into the market as economic agents search for value preservation. The All-Share Index and the segregated Industrials rose by a similar 28.15% to settle at 257.00pts and 256.52pts respectively. The Blue-Chip Index was 35.88% firmer at 284.39pts as its constituents claimed six spots in the top ten risers’ list of the week while, the Mid Cap Index advanced 6.05% to 177.09pts.
Written by EFE Research
The ZSE market recorded marginal gains in the week under review as three of the four indices we review closed pointing northwards. The All-Share Index rose by a negligible 0.03% to close at 200.54pts while, the Industrial Index was 0.02% up at 200.17pts. The Blue-Chip Index was 0.85% firmer at 209.29pts, mainly anchored by gains in Ecocash and Econet while, on the contrary the Mid Cap Index was the only loser amongst the indices as it dropped 2.69% to end pegged at 166.99pts. Elsewhere, financial services CBZ released its HY24 results in which the group reported a profit for the period of ZWG$656.29m.
The ZSE market rebounded in the week under review, mainly anchored by heavy and mid counters that recovered from prior week’s losses. The All-Share Index was 0.68% up at 94.65pts while, the segregated Industrials rose 0.69% to end pegged at 94.45pts.
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.
Thin trades coupled with waning demand weighed down the ZSE in the week under review as the uncertainty surrounding the introduction of Zig continued to mount.
Activity faltered on the market in the week under review as scrappy 192,000 shares were traded, distributed into ten counters.
The nation saw the appointment of the new governor in the week under review, who came in and made sweeping changes in terms of currency.
The ZSE extended its gains into the last week of March spurred by gains in the heavy and mid cap counters across the board as the reporting season ensued. The All-Share Index advanced 15.77% to settle at 873,263.38pts, mainly anchored by the Blue-Chip Index that notched up 16.06% to settle at 398,030.12pts.
The ZSE closed the week in the black as bulls raged on the market, with the benchmark All Share Index putting on 35.90% for the week to close at 584,266.23pts.
The ZSE continued to sail in the positive territory spurred by the sustained bullish sentiment prevailing on the bourse.
Resurgent demand in market heavies saw the ZSE reverse prior week’s losses and surge into gains, with all four benchmarks in our review closing in the black ahead of Christmas holidays. The ZSE All Share Index recovered 3.09% in the week under review and closed at 198,791.48pts with the gains ably anchored by the Top Ten Index which put on 4.58% and closed at 83,719.76pts.
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.
