ZSE market capitalisation falls on Bindura losses

ZSE market capitalisation falls on Bindura losses

HARARE, July 30 (The Source) – The Zimbabwe Stock Exchange industrial index advanced one percent to close the week on 202,06 points, its highest point in 40 months, while the mining index weakened by 5,14 percent to settle at 65,45 points after losses in Bindura.

Market capitalisation declined by 1,64 percent to $5,72 billion from $5,81 billion recorded in the previous week on the back of a drop in the resource index.

Total market turnover, however, declined  by 39,05 percent to $3,5 million this week from $5,8 million recorded in the previous week.

Econet and Simbisa gained 5,89 percent and 9,76 percent to close at 39,18 cents and 22,5 cents respectively.

Seedco and Padenga picked up 2,41 percent and 1,35 percent to close at 138,25 cents and 27,75 cents respectively, while Innscor and BAT slightly gained 0,34 percent and 0,28 percent to trade at 72,75 cents and 1,805 cents in that order.

The largest company by market capitalisation, Delta remained unchanged at 127,25 cents.

Other heavyweight counters Hippo, Natfood and Old Mutual  were unchanged at 87 cents, 380 cents and 393 cents in that order.

Leading the gainers pack was CFI whose share price rose 19,97 percent to close at 37,25 cents in the week under review.

Ariston and  African Sun also picked up  12,5 percent and 11,11 percent respectively.

TSL, Truworths and Willdale gained 3,66 percent, 2,94 percent and 2,5 percent in that order.

Additionally, FML and NMB advanced 1,79 percent and 1,25 percent while Dawn added 1,11 percent in the week under review.

However, Barclays, Meikles and Edgars  eased 15,06 percent, 7,25 percent and 4,99 percent in that order.

ZB Financial Holdings and Fidelity also lost 2,94 percent and 1,79 percent respectively.

On the mining space, Bindura weighed down the mining index after its share price eased 15,52 percent  to trade at 2,45 cents. Riozim, Falcon and Hwange remained at 55 cents, 1 cent and 2,5 cents in that order.

Foreigners were net sellers in the week under review, disposing of shares worth  $1,08 million  and  purchased shares worth $326,380.