Big caps propel Zimbabwe Stock Exchange

The Zimbabwe Stock Exchange industrial index picked up by 2.39 percent to 123.22 points this week while the mining index gained by 5.96 percent to 35.72 points as local interest in big cap stocks remains firm.

Market capitalisation increased by 2.44 percent to $3.396 billion. However, market turnover dropped  38 percent to $3.13 million.

National Foods and Padenga gained 11.7 percent and 6.67 percent to settle at 335 cents and 16 cents respectively.

BAT, Delta, Simbisa also advanced 2.33 percent, 1.92 percent and 0.21 percent to close at 1.535 cents, 74.4 cents and 14.18 cents in that order.

Innscor, Econet and Old Mutual were largely flat.

ZB Holdings led the gainers pack after picking up 20 percent to  close at  3.78 cents.

Axia was the only loser, shedding five percent to trade at 5.7 cents.

The resources index rose on the back of the gains recorded by Bindura, RioZim and Falgold which added 2.56 percent, 10.42 percent and 20 percent respectively. Hwange traded stable at three cents.

Foreigners remained net sellers during the week, with purchases of $910 866 and sold shares worth $1.76 million.-The Source

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