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BizDay Zimbabwe

ZSE closes week firmer

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THE Zimbabwe Stock Exchange industrial index closed the week 3,7 percent stronger on Friday last week on positive investor sentiment after appointment of a new and leaner Cabinet last week. Total market capitalisation rose by 3,9 percent to close the week at US$5,34 billion, reflecting a commendable year to date increase of 21,75 percent, which compares well to other regional exchanges.

The industrial index closed the week 3,7 percent higher at 188.4 points while the mining index closed the week 4,1 percent higher at 48,70 points.

Heavyweights Delta, Econet and Innscor gained 6,18 percent, 8,08 percent and 1,21 percent during the week to US120,09c, US53,50c and US81c respectively.

RTG traded at US1,70c while NicozDiamond and Interfresh at US2c apiece to finish the week as the top gainers after climbing up 30,77 percent, 25 percent and 11,11 respectively.

Medtech, Zimpapers and Willdale closed the week at US0,05c, US0,80 and US0,25 respectively after recording the most significant losses of 28,57 percent, 20 percent and 16,67 percent respectively.

Volumes traded amounted to 28,59 million shares while turnover was US$8,68 million and share volumes averaged 5,72 million shares per day.
Average daily value traded was US$1,74 million for the week. Trades were dominated by beverage maker Delta, cellular operator Econet and retailer Innscor contributing 32,87 percent, 21,21 percent and 21,55 percent respectively.

On Friday the industrial index closed 0,99 percent lower to end the week at 188,35 points. This was after Delta lost US4,81 cents to close at 120,09 cents, Masimba dropped US0,50c to trade at US9c and Econet shed US0,49c to trade at 53,50c. Dawn shed US010c to US0,90c and Willdale slipped US0,05c to trade at US0,25c.

The losses were partially offset by gains in BAT which rose 80 cents to trade at 1 000c, RTG ended US0,20c higher at US1,70c and NTS was up US0,10c to close at US3c.

The mining index was flat at 48,73 points. Bindura US20c, Falgold US10c, Hwange US11c and RioZim US21c were unchanged at previous trading levels. The mining index went up 4,17 percent compared to week ending September 6 2013.

On a month-to-month basis the ZSE industrial index declined 21,99 percent in August to close at 181,71 points with all heavyweight stocks taking major knocks.

The index fell as heavyweights Delta, Econet and Innscor registered losses for the month of 26,67 percent, 27,94 percent and 21,90 percent respectively.

Econet closed the month of August at US48c as Delta dropped to US110c and Innscor fell to US83,4c.
Mid-cap counters also took a battering in August as OK Zimbabwe fell 30 percent to US22c, BAT dropping 29,92 percent to US1 000c and Dairibord retreating 30,11 percent in the period under review to end the month at US19c.

Financials did not escape the great trek southwards with Barclays plunging 47,69 percent to US60c, FBC 20 percent to US9,6c, NMBZ shedding 11 percent to US8c while CBZ retreated 10 percent to close at US14c..

Turnover rose 27,06 percent to US$54,24 million in August. Delta dominated trades accounting for US$14,46 million worth of shares traded.
Econet was the second largest contributor during the period, trading US$13,99 million worth of shares while CBZ contributed US$10,87 million of turnover.

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