Zimbabwe Stock Exchange bullrun slows

The Zimbabwe Stock Exchange industrial index advanced 0.24 percent to close the week on 198.41 points, driven by slight gains in some heavyweight counters.

The mining index eased 1.13 percent to settle at 69.19 points.

Market capitalisation increased by 0.22 percent to $5.76 billion from $5.75 billion recorded in the previous week.

Total market turnover increased  by 76.65  percent to $9.29 million this week from $5.26 million recorded in the previous week.

Delta slightly gained 0.2 percent in the week to close at 127.25 cents.

Hippo Valley and Simbisa gained 4.94  percent and 2.24 percent to close at 85 cents and 20.5 cents respectively.

Econet and Padenga picked up 2.22 percent and 0.55 percent to close at 36.8 cents and 27.2 cents in that order.

Innscor also gained 0.35 percent in the week to settle at 72.25 cents.

Other heavyweight counters BAT, Natfood and Old Mutual  were unchanged at 1 800 cents, 380 cents and 393 cents in that order.

Leading the gainers pack were AfricanSun  and Axia whose share prices rose 11.8 percent and 9.09 percent respectively.

NMB, Dairibord and Masimba gained 8.97 percent, 8.36 percent and 8.33 percent in that order.

Additionally, CFI and Barclays advanced 7.14 percent and 5.39 percent while OK Zimbabwe and TSL added 3.37 percent and 3.1 percent respectively.

Seedco was the only heavyweight counter which recorded a loss in the week after easing 7.59 percent to settle at 134 cents.

Ariston, Meikles and FML  eased 20 percent, 19.83 percent and 2.22 percent in that order.

On the mining space, Bindura weighed down the mining index after its share price eased 3.33 percent  to trade at 2.9 cents.

 Riozim, Falcon and Hwange remained at 55.25 cents, 1 cent and 2.5 cents respectively.

Foreigners were net buyers in the week under review, disposing of shares worth $805 560  and  purchased shares worth $2.9 million. –The Source

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