ZSE weekly review

The Zimbabwe Stock Exchange (ZSE) all share price index finished the week ending 15 October 2021 on a positive territory with 10,596.85 points, indicating a 10.73% increase from the prior week.

At the end of the last weekday of trading on the ZSE, a total of 8,254,600 shares were traded corresponding to a market value of ZWL 625,382,939.63.

According to the ZSE weekly report as at 15 October 2021, the overall ZSE market capitalization for the period under review stood at ZWL 1,157 billion.

All the market capitalisation indices registered an increase in performance these were the ZSE Top 10 index by 12,78%, Top 15 by 12.06%, Small Cap by 24.07%, Medium Cap by 5.77%.

On the other hand, all the sectoral indices registered increases with the Mining index rising by 12.32%, Financials by 1.21%, Consumer Discretionary by 14.00%, Consumer by 13.75%, New Industrial by 3.48%, ICT by 9.00%, Materials by 8.30%, Real Estate by 1.74%, Investable by 14.71%.

Gains were spurred by National Foods Limited which rose by $28.5517 to $1,524.5900, Innscor Africa shot up by $27.6378 to $179.7207 along with Hippo Valley Estates which rallied $27.2955 to $297.2955. Lafarge Cement traded $17.3333 up to $113.0000 while Simbisa Brands strengthened by $14.2652 to $104.2002.

Trading in the negative were, CBZ Holdings pulled $4.0182 which fell to $96.2314, OK Zimbabwe dropped by $2.8037 to $25.6669 whilst Willdale trimmed $0.2814 to $3.6314. General Beltings fell by $0.1659 to $2.5341 and NMB Holdings lost $0.1377 to $13.2909.

However, the Exchange Traded Funds (ETF) Old Mutual ZSE TOP 10 (OMTT.zw) was $0.0212 lower at $3.9941.

In relation to steadiness on the stock market is reserve money which decreased by ZW$225.32 million to ZW$28.05 billion, in the week ending 8 October 2021. The decline in reserve ratio reflects an increase in money supply.

More money in circulation means that investors have more money to buy financial assets in the stock market, hence an increase in the stock market price.

Other regional stock exchanges traded steadily for the period under review, with the Johannesburg Stock Exchange (JSE) All Share Index closing at 67,028.86, representing a 1-week gain of 2.74%, and the Nigerian Stock Exchange (NGX) All-Share Index moved up 308.17 (0.75%) points to close at 41,438.15, representing a 1-week gain of 1.39%.

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