Zimbabwe Stock Exchange market capitalization clocks a 20-month peak of $4.1billion

The Zimbabwe Stock Exchange’s market capitalisation this week rose by 6.73 percent to reach $4.134 billion, its highest since March last year as the mainstream index gained 6.98 percent to 149.39 points on the back of gains recorded by heavyweight counters.

Beverage maker Delta, gained 9.82 percent to close at 93.96 cents while Innscor advanced 32.33 percent to settle at 53.46 cents in the week under review.

Econet and Simbisa added 7.1 percent and 3.55 percent to trade at 34 cents and 16.05 cents respectively.

Natfoods and Old Mutual also advanced 2.93 percent and 1.79 percent to close at 360.25 cents and 346.25 cents in that order.

Partially offsetting the gains were the losses in Padenga and BAT after easing 0.54 percent and 1.47 percent respectively.

Zimpapers, Turnall and Hippo lost 37.5 percent, 15 percent and 4.53 percent in that order.

Market turnover decreased by 3.8 percent to $9.147 million with average daily trades of $1.829 million in the week under review.

The mining index eased 2.75 percent to settle at 55.52 points weighed down by Bindura which lost 4.44 percent to settle at 4.3 cents.

RioZim, Hwange and Falgold were unchanged at 23.10 cents, 3 cents and 0.6 cent in that order.

Foreigners remained net sellers during the week, with purchases of $525 001 while selling off shares worth $6.437 million.

The local bourse recorded 34 percent foreign participation in the week under review.-The Source

(46 VIEWS)