Gains in blue chips drive Zimbabwe Stock Exchange

The Zimbabwe Stock Exchange’s main industrials index advanced 6.91 percent to close the week on 190.07 points, pushed by gains in heavyweight counters.

The mining index remained unchanged this week at 69.63 points.

Market capitalisation increased by 6.47 percent to $5.53 billion from $5.18 billion recorded in the previous week.

Total market turnover declined by 38.52 percent to $8.33 million this week from $13.56 million recorded in the previous week.

Delta and Padenga gained 13.6  percent and 22.98 percent to close at 125.19 cents and 26.44 cents respectively.

Hippo and Seedco picked up 14.29 percent and 14.08 percent to close at 70 cents and 125.19 cents in that order.

Innscor and BAT  advanced 10.48 percent and 5.26 percent to settle at 71.92 cents and 1 800 cents respectively while Old Mutual and NatFoods picked up 0.97 percent and 0.14 percent to close at 382.75 cents and 366.5 cents respectively.

Leading the gainers pack were FML and Powerspeed whose share prices rose 22.5 percent and 17.02 percent respectively.

CFI, Fidelity and Axia  gained  12.98 percent, 12.5 percent and 7.8 percent in that order.

Additionally, Dairibord and Mashonaland  advanced 5.9 percent and 3.9 percent while CBZ and NMB added 4.6 percent and 2.86 percent respectively.

StarAfrica was the only loser in the week, easing 16.67 percent to one cent.

All mining stocks were unchanged.

Foreigners remained net sellers in the week, disposing of shares worth $1.43 million compared to buys of $1.18 million.- The Source

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