ZSE opens week in extended recovery mode 20/04/21

Author Name
Tinashe W Duma
Stock Market 2 weeks ago
  • ZSE opened the holiday shortened week in sustained gains on the back of improved demand, stretching the trend to 3 straight sessions coming after a protracted 7-day losing streak
  • Performance was in line with global shares which rose on Tuesday led by a stronger Chinese opening which shook off an initial drag from tech-driven Wall Street losses. The US dollar stayed at multiweek lows against other major currencies.
  • The mainstream ZSE All Share Index strengthened by 2.99%, increasing its momentum, to close at 4353.01 points. The gains trimmed month to date losses to -3.02%. Gains were stimulated by market heavies out-weighing small caps’ extended weak performance.
  • An unchanged aggregate of 41 counters exchanged hands in week opening session from which 11 sailed stable while 20 counters emerged risers. Tightly held AFDIS topped the risers set with a 18.52% gain to close at 4800c.
  • The top-performer was followed by Masimba which buttressed its prior session gains on adding 18.38% to settle at 1900c. Nampak extended gains to a 4th straight session on notching 13.39% to close at 1200c.
  • FML reversed its prior session loss on rising by 12.82% to settle at 2200.01c. Simbisa recouped its prior session loss on surging by 10.71% to close at 3000c, capping the Top 5 risers set.
  • The counter is however trading at a significant discount to its recent record high level, which it hit after reporting solid financials for the 6 months period to December 2020.
  • A pack of 10 stocks dominated by small caps partially weighed on the market. General Beltings countered prior session gains on easing by -13.04% to close at 60c while NTS shed -7.47% to settle at 925.26c.
  • Unifreight tumbled by -7.14% to close at 1300c trailed by Turnall which lost -6.77% to settle at 280.61c. BNC extended its losing streak to 5 straight sessions falling by -3.6% to close at 452.90c, capping off the Top 5 laggards pack.
  • Total turnover rose by 227% in today’s session to ZW$404.54 million against a 162% growth in volumes. FML led turnover contributors at 56% foothold of the aggregate and was trailed by Meikles, Econet, Innscor and Delta in that respective order.
  • Foreign selloffs have dominated much of the recorded turnover in the month, with today’s session recording an 84% foothold of foreign outflows.

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...