ZSE market cap hits $8bln

ZSE market cap hits $8bln

HARARE, September 10 (The Source) – The Zimbabwe Stock Exchange (ZSE) market capitalisation increased by $1,37 billion in the week to close at $8,12 billion on Friday, from $6,74 billion in the previous week.

The ZSE industrial index advanced 20,43 percent to close the week on 286,63 points, pushed by significant gains in heavyweight counters while mining index also gained 11,01 percent to close on 82,2 points.

Total market turnover nearly doubled to $8,13 million from $3,82 million recorded in the previous week.

The largest company by market capitalisation, Delta gained 21,97 percent to close at 173,92 cents in the week while Padenga and Simbisa gained 76,47 percent and 37,98 percent to close at 79,18 cents and 64,85 cents respectively.

Econet and Hippo gained 32 percent and 22,4 percent to close at 66 cents and 117,5 cents respectively.

Old Mutual and Innscor picked up 14,92 percent and 9,84 percent to close at 490,71 cents and 87,05 cents in that order.

SeedCo and BAT advanced 5,35 percent and 0,27 percent to settle at 183,47 cents and 1,819.84 cents respectively.National Foods remained unchanged at 381,5 cents.

Among the top gainers pack were OK Zimbabwe and Barclays whose share prices rose 60 percent and 57,89 percent to close at 24 cents and 6 cents respectively.

Axia, Meikles and Ariston gained 43,21 percent, 38,14 percent and 27,27 to settle at 24,36 cents, 29,01 cents and 1,4 cents in that order.

Additionally, Afdis and NMB advanced 26,87 percent and 20,56 percent to close at 85 cents and 6,51 cents while African Sun and Cafca added 20 percent apiece to close at 2,4 cents and 24 cents respectively.

TSL, ZB Financial Holdings and Mashonaland Holdings also gained 18,58 percent, 14,81 percent and 14,72 percent to close at 30 cents, 21,24 cents and 2,65 cents respectively.

Partially offsetting the gains recorded by the industrial index were CFI and Willdale whose share prices fell 12,73 percent and 12,5 percent to close at 60 cents and 0,35 cents respectively.

On the mining space, Riozim, Bindura and Falcon pushed the resource index higher after gaining 4,05 percent, 28 percent and 66,67 percent to settle at 67,89 cents, 3,2 cents and 2 cents in that order. Hwange remained unchanged at 2,6 cents in the week.

Foreigners remained net sellers in the week, disposing of shares worth $8,13 million compared to buys of $138,422.