duh,
your comment "does movc change the z-flag".... is an understatement.

I think the answer is NO, because the 8051 does not have a Z-Flag !

The JZ and JNZ instructions in 8051 depend on the ACC contents alone, so if your intention is to keep moving until the table contains a 0, it's missing an increment.

In the same way, INC and DEC can not change the JZ and JNZ function either, unless they are working on the ACC.

You must still have Z-80, which does have that flag, on your mind.