Zimbabwe Stock Exchange mainstream index at 30-month high

The Zimbabwe Stock Exchange industrial index advanced 0.82 percent to close the week on 200.04 points, its highest point in 30 months.

This is the highest mainstream index level since December 31, 2013, when it closed the year on 202.12 points.

The mining index eased 0.27 percent in the week to settle at 69 points.

Market capitalisation increased by 0.88 percent to $5.81 billion from $5.76 billion recorded in the previous week.

Total market turnover however declined by 37.44  percent to $5.8 million this week from $9.3 million recorded in the previous week.

Hippo Valley and OK Zimbabwe gained 2.35 percent and 2.85 percent to close at 87 cents and 10.1 cents respectively.

Padenga and Econet picked up 0.66 percent and 0.54 percent to close at 27.38 cents and 37 cents respectively.

Innscor also gained 0.35 percent in the week to settle at 72.5 cents.

The largest company by market capitalisation, Delta remained unchanged at 127.25 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 was CFI whose share price rose 72.5 percent to close at 31.05 cents.

The CFI share price is 41 percent higher than the mandatory minority offer price of 22 cents, which was offered to minority shareholders by the major shareholder, Stalap, after it surpassed the minimum threshold of 35 percent as required by the ZSE listing requirements.

Proplastics and  Dawn picked up  27.45 percent and 24.14 percent respectively.

Zimplow, Nampak and ZB Financial Holdings gained 13.38 percent, 10 percent and 3.03 percent in that order.

Additionally, PPC and Truworths advanced 2.9 percent and 2 percent while FML added 1.82 percent in the week under review.

However, Unifreight, NMB and Barclays  eased 7.5 percent, 5.88 percent and 1.16 percent in that order.

AFDIS and Meikles also lost 0.83 percent and 0.25 percent respectively.

On the mining space, Riozim weighed down the mining index after its share price eased 0.45 percent  to trade at 55 cents.

Bindura, Falcon and Hwange remained at 2.9 cents, 1 cent and 2.5 cents in that order.

Foreigners were net buyers in the week under review, disposing of shares worth  $1.2 million  and  purchased shares worth $1.24 million.- The Source

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