Econet, Delta drive ZSE to new heights

Econet, Delta drive ZSE to new heights

HARARE, May 26  (The Source) – The ZSE industrial index this week advanced 4,55 percent to 160.3  points on the back of gains recorded by heavyweight counters.

However, the mining index eased 2,49 percent to close the week at 69.21 points after losses in RioZim and Hwange.

Market capitalisation increased by 4,36 percent to $4,68 billion from $4,48 billion recorded in the previous week mirroring the gains recorded by the mainstream index. Total market turnover declined by a third to $4,7 million this week from $6,9 million recorded in the previous week.

Delta and Econet gained 2,69 percent and 22,1 percent to close at 95,5 cents and 30 cents respectively. Innscor and BAT picked up 9,35 percent and 6,73 percent to close at 53,58 cents and 1,665.0 cents.

Seedco and National Foods also advanced 1,06 percent and 0,97 percent to close at 98,2 cents and 365,5 cents in that order, while Simbisa, Padenga and Old Mutual advanced 0,84 percent, 0,28 percent and 0,27 percent to settle at 18 cents, 21,21 cents and 376,25 respectively.

Leading the gainers pack were Ariston and Powerspeed after their share prices rose 33,33 percent and 20 percent respectively

Additionally, ZB Financial Holdings and OK Zimbabwe gained 6,25 percent and 6,06 percent in that order.

Losses were in Willdale and Hwange who dropped 30 percent and 19,66 percent to close at  0,35 cents and 2,33 cents respectively.  

Zimre, Lafarge and Riozim dropped 13,33 percent; 10,11 percent and 3,51 percent in that order.

FBC and Turnall also shed 1,4 percent and 1,01 percent respectively.

Falgold was the only mining counter which did not trade in the week, remaining at 1 cent.

Foreigners remained net sellers in the week, selling off shares worth $2,97 million compared to buys worth $1,77 million.