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ZSE loses $900m despite recovery

HARARE – The ZSE industrial index eased 8,49%to close the week on 366,08 points, weighed down by significant losses in heavyweight counters despite a recovery on Friday.

However, the mining index gained 8,98% to close on 99,67 points.

After four successive losses, the bourse recovered on Friday as the mainstream index picked up by 0.46 points.

Market capitalisation dropped by 8,2% to $10,4 billion from $11,3 billion in the previous week. Total market turnover declined to $25,93 million from $27,99 million recorded in the previous week.

Delta, to a larger extent, weighed down the mainstream index after shedding 25,6 percent to close at 220,01 cents in the week.
Padenga and Simbisa eased 18,66% and 9,76% to close at 81,34 cents and 69,5 cents respectively.

OK dropped 18,92% to settle at 30 cents.

Seedco and Innscor dropped 1,94% and 5,12%to close at 235,1 cents and 144,86 cents in that order.

However, other heavyweights recorded some gains. BAT advanced 42,05% to close at 2,606.67 cents while Econet and Old Mutual  gained 0,92% and 16,48% to close at 80,25 cents and 783 cents respectively. National Foods remained unchanged at 405 cents.Other counters to record losses were FML and Dairibord which eased 17,75% and 15,41% to close the week at 9,5 cents and 14 cents respectively.

Additionally, Axia and Barclays eased 12,17% and 11,44% to trade at 28 cents and 7,97 cents in that order.

ZPI lost 8,4% to settle at 2,29 cents while Meikles and Powerspeed eased 6,66% and 6,25% to trade at 38 cents and 7,5 cents respectively.

NMB and StarAfrica dropped 5,56% and 2,07% to close at 8,5 cents and 2,37 cents respectively.

Edgars and Willdale  fell 2% apiece to close at 4,9 cents and 0,98 cents respectively.

On the gainers pack, African Sun advanced 24,64% to settle at 4,3 cents while CBZ and Colcom advanced 24,61%and 22,39% to close the week at 20 cents and 61,5 cents respectively.

Lafarge and Ariston gained 20% and 19,84% to settle at 60 cents and 3,02 cents respectively.

Truworths added 17,27% to trade at 1,29 cents.

Afdis, ZB Financial Holdings and Mashonaland also gained 13,33%, 11,54%and 12,9% to close at 170 cents, 29 cents and 3,5 cents respectively.

Cement maker, PPC gained 9,80%to settle at 90,04 cents while NicozDiamond advanced 8,11% to trade at 4 cents.

Zimre, FBC and Dawn advanced 5,88%, 4,77% and 4,35% to close at 1,8 cents, 20 cents and 2,3 cents in that order.

CFI gained 4,53% to trade at 66,5 cents while Masimba Holdings gained 4% to trade at 6,24 cents.

Proplastics advanced 1,33% to settle at 7,6 cents.

Media group, Zimpapers advanced 1,99% to close the week at 1,07 cents.

On the mining space, Riozim, Bindura and Hwange pushed the resource index higher after gaining 10,51%, 5,26%and 19,87% to settle at 80,67 cents, 4 cents and 3,74 cents in that order. Falcon remained unchanged at 2 cents in the week.

Foreigners remained net sellers in the week, disposing of shares worth $9,1 million compared to buys of $2,9 million. – The Source

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