Zimbabwe Stock Exchange closes week higher on heavyweight gains

The Zimbabwe Stock Exchange industrial index this week advanced 0.65 percent to 135.36 points on the back of small gains recorded by some heavy weights.

Market capitalisation increased by 0.55 percent to $3.77 billion from $3.75 billion recorded in the previous week.

Total market turnover decreased by 38.69 percent in the week from $5.69 million last week to $3.49 million with average daily trades of $697 120.

The mining index lost 3.63 percent to close the week at 53.66 points

Delta and Simbisa gained 1.69 percent and 3.03 percent to close at 84 cents and 17 cents respectively.

Econet and Old Mutual also picked up 0.84 percent and 0.36 percent to close at 13.13 cents and 347.25 cents respectively.

BAT and Padenga also advanced 0.33 percent and 0.29 percent to close at 1 525.00 cents and 17.05 cents respectively.

Leading the gainers pack were Ariston and First Mutual after their share prices rose 20 percent and 11.11 percent respectively while Meikles and TSL advanced 10.53 percent and 7.05 percent respectively.

Additionally, Barclays gained 4 percent in the week to settle at 2.60 cents.

Losses were in Innscor and Seedco who dropped 0.56 percent and a marginal 0.02 percent to trade at 44.75 cents and 93 cents respectively.

Dawn, NMB and Axia  lost 12.5 percent, 7.3 percent and 7.14 percent to trade at 1.4 cent, 3.3 cents  and 6.5 cents in that order.

CBZ and Dairibord shed 2.86 percent and 0.4 percent to trade at 10.2 cents and 5 cents respectively.

The loss recorded by the resources index was on the back of a loss in Bindura which dropped 9.09 percent to close at 3 cents, offsetting a 1.36 percent gain recorded by RioZim to close at 33.55 cents.

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

Foreigners remained net sellers in the week, selling off shares worth $1.93 million compared to buys worth $989 541.-The Source

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