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EFE Securities Year to Year Financial Statements
The market-maintained gains in the week under review despite constrained activity. All the four benchmark indices we review recorded decent gains during the week with the All Share Index notching up 5.57% to 138,620.74pts while, the Blue-Chip Index closed at 61,118.06pts following a 3.79% ascent. The Industrial Index advanced 5.55% to 445,080.54pts while, the Mid Cap Index was the biggest gainer amongst the indices as it edged up 9.60% to 566,226.72pts. Elsewhere, IMF has revised upwards its 2023 growth forecast for Zimbabwe to 4.1% from an earlier projection of 2.5%, on improved economic activity.
Written by EFE Research
The market rose in the month opening week, anchored by small to mid-cap counters that dominated the top ten gainers. All the four benchmark indices we review closed pointing northwards, the All-Share Index was up 3.69% at 131,311.22pts while, the Blue-chip Index gained 4.12% to end pegged at 58,887.93pts. The segregated Industrials grew 3.67% to 421,695.73pts while, the Mid Cap Index surged 3.73% to close at 516,621.42pts. Meanwhile, fintech group Ecocash released the results of the rights offer in which the public only subscribed for 35.45% of the rights, to let the underwriter pick the remaining chunk of 64.55%.
Market recovers in the closing week of the month... The market reversed prior week losses to end the month of September in the black as demand in selected counters began to firm in the week under review. The All Share Index charged 9.66% to settle at 126,642.42pts while, the Blue-chip Index recorded double digit gains of 15.78% to close the week pegged at 56,560.21pts buoyed by improvements in Delta and SeedCo. The Industrial index garnered 9.62% to settle at 406,761.26pts while, Mid Cap Index eked out 0.52% to end the day pegged at 498,045.42pts. Meanwhile, OK Zimbabwe released the much-awaited FY23 results in which the Group reported a PAT of $5.20bn despite facingchallenges of wanning demand and high influx of informal markets.
The ZSE extended gains for the fifth consecutive week despite liquidity constraints, to see the primary All Share Index garner 9.49% to settle at 143,231.12pts. The Blue-Chip Index was the best performer of the week among its kind as it rose 11.80% to 69,387.77pts anchored by demand in CBZ, Delta and Econet. The Industrial Index firmed up 9.34% to close at 459,844.11pts as the Mid Cap Index grew 5.30% to end at 483,899.13pts. Meanwhile, Property concern Mashonaland Holding release their HY23 results in which they reported a PAT of $236.43bn and, declared a hybrid dividend of US0.00761 Cents and ZW$0.1535.
The ZSE recorded marginal gains in the closing week of August on depressed trading activity as many players remained sceptical about the political environment. The All Share Index advanced 0.88% to 122,199.15pts while, the Industrial Index inched up 0.78% to 392,994.91pts. The Mid Cap index was the major gainer amongst the Indices we review as it garnered 5.69% to 450,491.88pts while, on the contrary the Blue-Chip Index declined 1.53% to 56,448.75pts. Elsewhere, financial and banking institutions released some good sets of HY23 results, with major highlights coming from FBC, ZB Bank and NMB as they reported inflation adjusted profits of $365.99bn, $678.46bn and $194.94bn respectively.
