ZSE closes higher, halting 3-day long losses trend

Author Name
Respect Gwenzi
Stock Market 6 months ago

*Performance Charts incl (ZSE indices, ZSE Value Traded, Interbank)

The stock market partially reversed a 3-day losing streak on rising by 1.39% on Thursday. The bourse has largely traded sideways over the last 4 weeks as the Zimdollar stabilises against the USD. This week the local unit lost a negligible 0.004% against the greenback as the supply of forex continues to match demand. Despite choppy trading, the ZSE maintains a comfortable 558.44% year to date gains, largely accrued over the first 6 months period of the year. The ZSE performance has largely been informed by exchange rate dynamics. In recent weeks the exchange rate has performed relatively stable to other global currencies in formal trades.

zse charts


A total of 28 counters exchanged hands in the session, down from 31 in the prior, from which 8 emerged risers. Financial stock, CBZ, led the risers’ pack on notching 11.6% to settle at 3995.28c. African Sun partially reversed prior session losses on surging 3.53% to close at 168.44c while Hippo emerged 3rd best performer upon adding 2.17% to close at 1404.85c. The duo of Medtech and ARTZDR marginally gained 0.63% and 0.44% respectively to settle at 8.05c and 230c each.

On the downside, 11 counters partially weighed down the market, with Nampak emerging worst performer on plunging -6.19% to close at 75c/share. Padenga took its losing streak to 4 straight sessions upon slumping -2.81% to settle at 1360.71c while financial stock, ZBFH, let off -0.98% to close at 1771.86c. Edgars closely trailed losses on softening -0.94% to settle at 95c while another financial peer, FBCH, closed the market at 1380c after losing -0.85%.


Upcoming Events

Company Event Venue Date Time
BNC Virtual AGM TBA 09 November 2020 1400Hrs
NatFoods Virtual AGM Royal Harare Golf Club 13 November 2020 0854Hrs
AfDis Virtual AGM escrowagm.com/eagmZim/Login.aspx 13 November 2020 1230Hrs

Stock Market ● 3 days ago
Stabilising macro dynamics support National Foods FY-20 Q3 Volumes

Following improvements to rainfall patterns, subdued inflation and a stabilising operating environment, Zimbabwe’s largest food manufacturer experienced volume growth across most major units.   Production Unit  % Growth/Decline Overall 🏭 14.2 ↗️ Maize 🌽 (31) ⬇️ Stockfeeds 🐖 27 ↗️ Groceries 🍞 95 ⬆️ Snacks & Treats 🍭 44 ↗️ Volume changes were reported on...

Markets ● 4 days ago
Price remodel supports Turnall FY-20 operations

In the 12-month period ended December 2020, the construction industry specialist faced operational challenges on both domestic and international markets, dampening year-end reported volumes and Group earnings. Calendar months of trading were unexpectedly deducted due to nation-wide Covid-19 lockdowns.   On the domestic front, revision of central bank policies on multi-currency pricing led to...

Stock Market ● 1 week ago
ZSE set to record the worst monthly performance in 6 months

The ZSE extended gains to mid-week as investors continue to buy on dips following a wave of losses. The trend, going forward, is, however, likely to be influenced by results released for the year ending December. Most earnings have been deferred due to some challenges around accounting and COVID-19 related challenges in concluding the audits. The overall bourse added 1.18% in today’s session...

Markets ● 2 weeks ago
Covid-19 Further Delays TRUWzw HY-20 Result Release

ZSE-listed international retailer Truworths was recently granted an extended grace period for their HY-20 result publication. This follows periodic operational disruptions in the company's 2020 Q1 and Q2, a period characterised by Staff adjustments to remote working Partial and in some cases complete halt in trading of their stores as well as Reduced trading hours when stores were permitted t...

Stock Market ● 2 weeks ago
ZSE recovers but remains in month to date losses

The ZSE recovered in the 3rd week of the month, a similar trend in the prior month. The recovery follows a weak performance in the first half of the month. The mainstream All Share Index surged by 5.15% to close at a 3-week high of 4444.19 points, leveraging on rejuvenated demand in market heavies. Gains posted in the week were insufficient to reverse the month to date loss on record, as down...