• Tue. Apr 23rd, 2024

ZSE records all round gains on Monday

ByEconomic Times

Oct 24, 2022

By ETimes

The ZSE All Share Index started the week in the positive after adding 1,73% to close at 14 553.86 points.

National Foods which was $84.88 up at $1 105.00, Simbisa which is trading under a cautionary was $13.84 higher at $225.06. Milk processor Dairibord rose by $5.81 in the session to end the day at $47.81. Delta increased its share price by $3.92 to recover to $226.27 and Innscor inched $3.64 higher to $310.04.

Trading in the negative was financial stocks ZB Holdings which is also trading under a cautionary led the shakers with a $4.99 drop to $115.01 and CBZ Holdings which went down by $4.89 to close at $130.11.

AFDIS dropped $1.00 in the session to $298.00 as Edgars share price decreased by $0.04 to $7.47. Retailer OK Zim lost $0.03 to close at $32.97.

On the derivatives market the Cass Saddle ETF, Datvest Modified Consumer Staples ETF and Morgan & Co Multisector ETF remained flat at $2.07, $1.70 and $22.00 respectively.

The Old Mutual ZSE Top 10 ETF dropped $0.06 to $5.44 and Morgan & Co Made in Zimbabwe ETF was $0.0989 lower at $1.1000.

In the past week, the ZSE All-Share Index with a year to date gain of 32,20% added 3,43% to close the week at 14 306.79 from 13 831.97 in the prior week.

There were 26 gainers against 10 in the red as market turnover was down by 70,31% to $1,13 billion from $3,795 billion, led by Econet that traded $366 million, Delta $263 million, Simbisa $158 million, Innscor $137 million and National Foods which saw $40,6 million exchange hands.

On the ETFs section, Old Mutual was the biggest gainer, after rising by 5,61% from $5.21 to $5.50. On the VFEX, Bindura and Padenga were down by 1,67% and 5,74% to close at US$0.029 and US$0.320 cents respectively.

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It is anticipated that the market will remain relatively firm during the week given the usual month end improvements in liquidity. We expect most activity to be driven by trading in the majority of the Top 10 and Mid Cap stocks.

Oil prices slid 2% on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict Covid-19 policies and fuel export curbs depressed consumption.

Brent crude futures for December settlement fell US$1.67, or 18%, to US$91.83 a barrel, after rising 2% last week. US West Texas Intermediate crude for December delivery was at US$83.27 a barrel, down US$1.78, or 2,1%.

Gold prices slipped on Monday, having risen 1,8% in the previous session, as the US dollar firmed, though faint hopes that the US Federal Reserve will adopt a less aggressive policy stance later in the year cushioned further decline.

Spot gold fell 0,1% to US$1 654.68 per ounce as prices marked their biggest daily gain since October 3 on Friday.

US gold futures were up 0,1% at US$1 658.40 –Harare

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