Looks like the upward trek trend is dominant at the ZSE as it ended yet another week bullish again. The ZSE closed the week ending 20 September at $26,65 billion (+18,17%) after adding 3.94 Billion during the course of the week. Some of the highs seen at the ZSE this previous week were last seen in July 2019 according to The Standard.
Market benchmarks edged up: the All Share Index was up 17,76% to 196.37 points while the Industrial Index ended the week 18,03% higher at 654.89 points. The Top 10 Index advanced 21,84% to 182.38 points, highs last seen in July 2019. The Mining Index remained unchanged at 262.50 points. Year-to-date, the market is up 34,28% as measured by the All Share Index.
A total of 26 counters traded in the positive during the week, compared to only one company trading in the negative. First Mutual Limited led the risers, with a 43,48% jump. Other notable gains were seen in SeedCo, Simbisa Brands and OK Zimbabwe, which added 35,04%, 31,89% and 31,73% respectively. The only decliner for the week was Zimre Holdings, down 11,40%, on small value trades worth $5 157.
Activity was quite spread out amongst a number of counters. FBC Holdings, First Capital Bank and Mashonaland Holdings dominated volumes activity, collectively contributing 46,18% to total volumes. Total turnover at $35 181 277 was 9,39% lower than the $38 827 755 seen during the previous trading week. Turnover was largely concentrated in Old Mutual (19,22%), SeedCo (12,61%) and FBC Holdings (12,60%).
Among the heavyweights, Delta Corporation, Econet Wireless Zimbabwe and Cassava Smartech rose 25,05%, 22,77% and 16,64% respectively. Trading in fungible counters remained bullish: Old Mutual traded 34,57% up to a new high of $33.7000 with shares worth $6 762 440 changing hands. PPC Limited added 20% to $2.46000 on trades worth $126 814. The Old Mutual Implied Rate closed the week at 20.5246 from 17.3258 the previous week.