Local investors are taking refuge in local stocks ahead of the central bank’s introduction of bond notes, a token currency that will trade a par with the greenback.
Analysts say bargain hunters are targeting large corporations with prospects of a quick turnaround despite current poor economic fundamentals. Punters appear focussed on the following 10 counters.
Delta Corporation, in the period from October 3 to November 23 added 30 percent to 78 cents and 17.678 million shares of Delta were traded in the same period, translating to $12.428 million in turnover. Year to date, Delta is up 10.64 percent.
Telecommunications giant, Econet, added 48.2 percent to 29.04 cents in the period from October 3 to November 23, trading 19.873 million shares in the period which translated to $5.487 million turnover. Year to date, Econet is up 37.70 percent.
Innscor advanced 35.40 percent to 31.20 cents in the period under review and 14.218 million shares of the company were traded, a total turnover amounting to $4.204 million. Year to date, Innscor was up a modest 4.10 percent.
BAT added 31 percent to 1.599 cents in the period under review and 36 814 shares of the company were traded, a total turnover amounting to $547 706. Year to date, BAT was up 31 percent.
National Foods advanced 58 percent to 335 cents in the period under review and 43 304 shares of the company were traded, giving a total turnover of $122 284. Year to date, National Foods was up 27.8 percent.
Old Mutual also gained 13.80 percent to 330 cents in the period under review, with 382 121 shares traded in the period, its total turnover amounted to $1.211 million. Year to date, Old Mutual was up 62.20 percent
Padenga also gained 37.90 percent to 16 cents in the period under review, with 8.303 million shares traded in the period. Its total turnover amounted to $1.230 million. Year to date, Padenga’s share price has grown 107 percent
Getbucks remained unchanged at 3.70 cents in the period from October 3 to November 23, trading 49 799 million shares in the period which translated to $1.842 million turnover.
Axia added 61.60 percent to 5.80 cents in the period under review, with 28.743 million shares traded in the period, its total turnover amounted to $1.589 million.
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