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Gains in heavyweights propel Stock Exchange

28/08/2017 00:00:00
by The Source

THE Zimbabwe Stock Exchange’s main industrials index advanced 4,19 percent to close the week on 222,08 points, pushed by gains in heavyweight counters.

The mining index however eased 5,23 percent to close on 70,17 points.

Market capitalisation increased by 4,05 percent to $6,29 billion from $6,05 billion recorded in the previous week. The local bourse recorded a total market turnover of $3,37 million in the week.

Beverage maker Delta gained 3 percent to close at 132,11 cents in the week while Padenga and Simbisa gained 28,82 percent and 12,87 percent to close at 40 cents and 35 cents respectively.

Econet and Old Mutual gained 5,85 percent and 2,21 percent to close at 45,25 cents and 404 cents respectively.

Seedco and Innscor picked up 2,16 percent and 1,33 percent to close at 155 cents and 76 cents in that order.

BAT and Hippo advanced 0,55 percent and 0,27 percent to settle at 1,815 cents and 94,5 cents respectively.

Leading the gainers pack were General Beltings and NMB whose share prices rose 150 percent and 27,06 percent to close at 0,55 cents and 5,4 cents respectively.

Zimplow, Powerspeed and ZB Financial Holdings gained 22,45 percent, 20 percent and 15,25 to settle at 6,6 cents, 6 cents and 19,5 cents in that order.

Additionally, Axia and Unifreight advanced 14,94 percent and 13,04 percent to close at 15 cents and 1,3 cents while OK Zimbabwe and Pearl added 13,04 percent and 10,8 percent to close at 13 cents and 4 cents respectively.

PPC, Afdis and CFI also gained 9,62 percent, 7,88 percent and 6,8 percent to close at 71,25 cents, 65 cents and 65,15 cents respectively.

Partially offsetting the gains recorded by the industrial index were Bindura and Edgars whose share prices fell 16,39 percent and 3,85 percent to close at 2,5 cents and 5 cents respectively.

Masimba, Willdale and Proplastics also eased 3,28 percent, 2,44 percent and 1,76 percent to close at 5,9 cents, 0,4 cent and 6,7 cents respectively.

Foreigners remained net sellers in the week, disposing of shares worth $591,097 compared to buys of $227,289.


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