Heavyweights propel Zimbabwe stocks higher

The ZSE industrial index last week advanced 1.56 percent to 137.47 points on gains by big cap counters.

Market capitalisation rose 1.49 percent to $3.82 billion from the $3.77 billion recorded in the previous week.

Total market turnover nearly doubled from $3.49 million last week to $6.08 million with average daily trades of $1.22 million.

The mining index lost 0.13 percent to close the week at 53.59 points

Delta and Econet gained 2.38 percent and 14.24 percent to close at 86 cents and 15 cents respectively.

Old Mutual and Padenga also picked up 0.91 percent and 0.59 percent to close at 350.41 cents and 17.15 cents respectively.

Innscor and Seedco also advanced 0.56  percent and 0.54 percent to close at 45 cents and 93.5 cents respectively.

Leading the gainers pack were ZB Financial Holdings and General Beltings after their share prices rose by 64 percent and 25 percent respectively while Nampak and CFI advanced 11.11  percent and 3.89 percent respectively.

Barclays, Hippo and PPC gained 3.85 percent, 1.97 percent and 1.24 percent in that order.

Losses were in Ariston and Fidelity which dropped 11.9 percent and 9.1 percent to trade at 0.37 cents and 10 cents respectively.

Powerspeed, Pearl and Nicoz Diamond  lost 4.11 percent, 2.94 percent and 1.96 percent to trade at 2.1 cents, 3.3 cents  and 2.5 cents in that order.

Colcom also shed 0.68 percent to close at 36.5 cents in the week.

The loss recorded by the resources index was on the back of a drop in Hwange’s share price  which dropped 3.33 percent to close at 2.9 cents, offsetting a 0.15 percent gain recorded by RioZim to close at 33.6 cents.

Bindura and Falgold were unchanged at 3 cents and 1 cent respectively.

Foreigners remained net sellers in the week, selling off shares worth $3.6 million compared to buys worth $1.28 million.

Meanwhile, Zimbabwe Stock Exchange (ZSE) is now selling access to live market data from as low as $10 and $15 for locals and foreigners respectively in a bid to enhance informational efficiency on the local bourse through View only terminals (VOT).

The bourse announced the initiative last month, but only released the related costs on Thursday.

Acting chief executive, Martin Matanda said VOTs are viewing rights to ZSE’s live trading on the Automated Trading System (ATS).

The terminals will allow the user to view best bids/ask, volume, number of trades, high/low price trade price, trade/cumulative volume weighted average price, price change and trade value.-The Source

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