HomeBusinessZSE extends gains in the week after a temporary pullback

ZSE extends gains in the week after a temporary pullback

HARARE — The Zimbabwe Stock Exchange (ZSE) industrial index gained 2,2% to close the week at 525,63 points after, attributable to gains in selected heavyweight counters.

The mining index also gained 2,37% to close at 140,5 points.

Market capitalisation increased by 2,25% in the week to close at $14,94 billion from $14,62 billion in the previous week.

Total market turnover decreased by 18,61% to $38,4 million from $47,2 million recorded in the previous week.

The largest company by market capitalisation, Delta, gained 3,77% to close at 317,53 cents in the week.

Econet and OK Zimbabwe gained 1,68% and 19,63% to settle at 182 cents and 27 cents respectively while Old Mutual slightly gained 0,1% to settle at 1,430 cents.

Padenga and Seedco picked up 3,47% and 2,26% to trade at 81,74 cents and 317 cents respectively.

Simbisa also advanced 6,15% to close at 69 cents.

National Foods and BAT remained unchanged at 750 cents and 3,800 cents respectively.

Innscor was the only heavyweight to record a loss, after shedding 0,64% to settle at 165,93 cents.

Leading the gainers pack were General Beltings and Edgars after picking up 33,33% and 37,93% to close at 0,8 cents and 8 cents respectively.

ART and Lafarge gained 20% and 11,11% to settle at 7,2 cents and 100 cents respectively while TSL and NMB gained 8,11% and 5,26% to settle at 40 cents and 10 cents respectively.

CFI and Meikles gained 2,45% and 3,46% to settle at 73,25 cents and 44 cents respectively.

FBC and Willdale also added 4,17% and 5,33% to close 25 cents and 0,79 cents respectively.

On the shakers side, Ariston and Axia eased 22,22% and 5,66% to close at 2,1 cents and 25 cents respectively.

FML and ZB Financial Holdings eased 1,95% and 2,56% to settle at 19,1 cents and 38 cents respectively.

On the mining space, Bindura added 5,36% to settle at 5,7 cents while RioZim added 1,09% to trade at 116 cents.

Other mining counters, Hwange and Falcon, remained unchanged at 3,74 cents and 2,01 cents respectively.

Foreigners remained net sellers in the week, disposing of shares worth $21,95 million compared to buys of $12,54 million. — The Source

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