Mashonaland added 22 percent to 2 cents in the period under review and 48.151 million shares of the company were traded, a total turnover amounting to $837 139. Year to date, Mashonaland was down 9 percent.
CBZ also gained 5.40 percent to 10.50 cents in the period under review, with 12.426 million shares traded in the period. Its total turnover amounted to $1.279 million. Year to date, the CBZ share price fell 4.50 percent.
Nicoz Diamond added 71.90 percent to 2.75 cents in the period under review and 89.073 million shares of the company were traded, a total turnover amounting to $2.388 million. Year to date, Nicoz Diamond was up 82 percent.
Some of the property counters have gathered momentum, with Pearl Properties up 25.20 percent year-to-date. The company gained 45.45 percent to 2.88 cents in the period under review, with 28.712 million shares traded in the period while turnover amounted to $491 217.
“Investors are running for cover as they tilt their portfolios to be more protective, reallocating assets from fixed income market to the equities market,” noted stockbroking firm, Invictus.
Analysts say counters such as SeedCo, TSL and OK Zimbabwe would likely benefit from increased interest on the bourse.
Invictus noted that many listed companies are now in transition to get off the debt hook. These include Meikles, now up 11 percent year-to-date; RioZim ( following the ZAMCO deal that saw its debt capital turned into preference share capital carrying coupon of 9 percent), now up 101.9 percent year-to-date; CFI (following current Scheme of Arrangement in progress), now up 90 percent year-to-date to 9.5 cents.
Additionally, some of the counters that are likely to benefit from the ongoing restructuring initiatives include Hwange (Scheme of arrangement); Star Africa ( ZAMCO deal in process), although taking long, now up 60 percent year-to-date to 0.96 cents; RTG down 16.7 percent year-to-date; and Nampak (restructuring operations), now up 22.60 percent year-to-date to 1.9 cents.-The Source
Ed: It will be interesting to note how the market will react today now the bond notes are in circulation and the central bank has put restrictions on their circulation to make sure they do not flood the market and are not abused.
(78 VIEWS)
0 Comments