ZSE main index hits 400 point mark as market overheats

ZSE main index hits 400 point mark as market overheats

HARARE, September 17 (The Source) – The ZSE mainstream index rose 39,56 percent to close at 400,03 points with a lift from Delta, adding to the week’s record-setting performance.The market capitalisation increased by 39 percent to close at $11,3 billion from $8,12 billion in the previous week, mirroring the gains in both indices.

Total market turnover rose nearly threefold to $27,99 million from $10,64 million recorded in the previous week.

The largest company by market capitalisation, Delta gained 70,03 percent to close at 295,71 cents in the week.

Padenga and Simbisa gained 26,29 percent and 18,77 percent to close at 100 cents and 77,02 cents respectively.

Econet and National Foods also gained 20,48 percent and 6,16 percent to close at 79,52 cents and 405 cents respectively.

Old Mutual and Innscor picked up 36,99 percent and 75,39 percent to close at 672,24 cents and 152,68 cents in that order.

SeedCo and BAT advanced 30,68 percent and 0,83 percent to settle at 239,75 cents and 1,835 cents respectively.

Retail giant, Ok Zimbabwe gained 54,17 percent to close the week at 37 cents.

Leading the gainers were Wildale and StarAfrica, after picking up 185,71 percent and 84,73 percent to close at 1 cent and 2,42 cents respectively.

Ariston and Afdis gained 80 percent and 76,47 percent to trade at 2,52 cents and 150 cents respectively.

CBZ and Barclays advanced 52,86 percent and 50 percent to settle at 16,05 cents and 9 cents respectively.

Additionally, African Sun advanced 43,75 percent to close the week at 3,45 cents.

Turnall gained 43 percent to settle at 1,43 cents.

Meikles advanced 40,33 percent to trade at 40,71 cents.

ZPI and NMB gained 38,89 percent and 38,25 percent to trade at 2,5 cents and 9 cents respectively.

Dairibord gained 32,4 percent to settle at 16,55 cents.

Axia and FBC advanced 30,87 percent and 24,77 percent to trade at 31,88 cents and 19,9 cents respectively while Zimplow advanced 20,61 percent to settle at 7,96 cents.

Nicoz Diamond gained 20,13 percent to close the week at 3,7 cents while FMI Properties gained 20 percent to settle at 4,8 cents.

Zimre and Mashonaland gained 18,06 percent and 16,98 percent to trade at 1,7 cents and 3,1 cents respectively.

Additionally, TSL and Powerspeed advanced 16,67 percent and 14,29 percent to settle at 35 cents and 8 cents respectively.

On the mining space, Riozim, Bindura and Hwange pushed the resource index higher after gaining 7,53 percent, 18,75 percent and 20 percent to settle at 73 cents, 3,8 cents and 3,12 cents in that order. Falcon remained unchanged at 2 cents in the week.

Foreigners remained net sellers in the week, disposing of shares worth $12,3 million compared to buys of $5,3 million