Zimbabwe Stock Exchange grows by 25 percent in October

The Zimbabwe Stock Exchange industrial index advanced 24.73 percent in October to close at 521.85 points, as the hunt for stocks on the local bourse shows no signs of letting up.

The mining index also gained 8.09 percent to close at 132.49 points, its highest since September 2014.

In the year to date, both the mainstream and resource index increased by 261.07 percent and 126.44 percent respectively.

Market capitalisation rose by 25.04 percent, from $11.86 billion in the previous month to $14.83 billion, mirroring the gains recorded by both indices.

Year-on-year, the market capitalisation has increased by 345.59 percent.

Total market turnover also increased by 87.99 percent to $168.8 million from $89.8 million recorded in the previous month.

The largest company by market capitalisation, Delta advanced 14.53 percent in the month to close at 314.98 cents while the telecoms giant, Econet gained 114.38 percent to settle at 181.99 cents.

National foods and BAT advanced 48.99 percent and 25.62 percent to close the month at 750 cents and 3 800 cents respectively.

SeedCo also added 12.17 percent to trade at 314.61 cents.

Old Mutual, which is trading at a premium compared to its price on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE), advanced 55.42percent to close at 1 428.74 cents.

Leading the gainers were PPC and FML after picking up 141.11 percent and 110.53 percent in the month under analysis to settle at 346 cents and 20 cents respectively.

ART and Nampak gained 50 percent apiece to settle at 7.2 cents and 18 cents respectively while Lafarge advanced 45.16 percent to close at 90 cents

Barclays, Zimre and Hippo also gained 35.91 percent, 26.19 percent and 25 percent in that order to settle at 8.97 cents, 2.65 cents and 175 cents respectively.

Meikles and Zimplow advanced 24.31 percent and 21.5 percent to settle at 48.48 cents and 1.3 cents respectively.

FML Properties and Nicoz Diamond gained 20.83 percent and 20 percent to settle at 5.8 cents and 4.8 cents respectively.

Edgars and ZB Financial gained 16.4 percent and 14.71 percent to settle at 5.82 cents and 39 cents respectively.

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