Business - Companies & Markets - Finance - Local - Regional - September 27, 2021

ZSE weekly review

The Zimbabwe Stock Exchange (ZSE) all share price index closed the week ending 24 September 2021 with 7 866.84 points, indicating a 13.71% increase from the prior week.

According to the ZSE weekly report, at the end of the last weekday of trading on the ZSE, a total of 69,386,600 shares were traded and the market value of the week closed at ZWL 1,403,654,045.55.

The overall ZSE market capitalization for the period under review stood at ZWL 940 billion. Information from the African ‘Xchanges shows that a total of 42 ZSE equities participated in trading, ending with 31 gainers and two losers.

Simbisa Brands led the gainers with 19.39%, followed by Delta Corporation 18.59%, OK Zimbabwe 18.29% and Axia Corporation 17.58%. Trading on the negative were First Mutual Properties (-3.45%) and African Sun (-1.74%). First Mutual Properties lost $0.5000 to $14.0000 whilst African Sun shed $0.1424 to $8.0268.

All the market capitalisation indices registered an increase in performance these were the ZSE Top 10 index by 17.75%, Top 15 by 16.62%, Small Cap by 4.23%, Medium Cap by 8.06%.

On the other hand, all the sectoral indices registered increases except for the Real Estate index which closed at (-3.45%). Mining closed at 8.60%, financials at 2.70%, consumer discretionary at 15.03%, consumer staples at 19.53%, new industrial at 4.07%, ICT at 14.14%, materials at 4.84% and investable at 21.53%.

Other stock exchanges local and regional stock exchanges traded steadily for the under review. Locally, the Financial Securities closed with a market capitalisation of ZWL$ 5,893,832,049.00 billion, a turnover of ZWL$ 10,295.00 and a total of 145 shares were traded.

Regionally, at the end of 23 September 2021 trading session on the Johannesburg Stock Exchange (JSE), a total of 367,489,283 shares in 363,105 deals, corresponding to a market value of ZAR 25,292,411,129.53, were traded.

The ZSE has experienced massive volatility over the past few years, particularly beginning 2019, that is the period when the Zim dollar was reintroduced. So far in the year, the ZSE has rallied strongly, extending last year’s performance, financial analysts believe.

 “Pockets of opportunities are visible on the stock market, but caution has to be taken. Bluechip counters such as Delta and Simbisa have made significant strides in diversifying their operations and have invested heavily through acquisitions, thus creating real underlying value,”.

“Some of these counters protect value on the short run, but are equally rewarding on a long term horizon,” said financial analyst Respect Gwenzi in a local publication.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Econet shareholders to receive an interim dividend

Leading telecommunications group, Econet Wireless Zimbabwe Limited has declared an interim…