Zim stocks extend gains

HARARE, November 5 (The Source) – The Zimbabwe Stock Exchange (ZSE) industrial index gained 2.2 percent to 525,63 points after a recovery in some heavyweight counters.The mining index also gained 2,37 percent to close at 140,5 points.

Market capitalisation increased by 2,25 percent in the week to close at $14,94 billion from $14,62 billion in the previous week.

Total market turnover decreased by 18,61 percent to $38,4 million from $47,2 million recorded in the previous week.

The largest company by market capitalisation, Delta gained 3,77 percent to close at 317,53 cents in the week. 

Econet and OK Zimbabwe gained 1,68 percent and 19,63 percent to settle at 182 cents and 27 cents respectively while Old Mutual slightly gained 0,1 percent to settle at 1,430 cents.

Padenga and Seedco picked up 3,47 percent and 2,26 percent to trade at 81,74 cents and 317 cents respectively.

Simbisa also advanced 6,15 percent to close at 69 cents.

National Foods and BAT remained unchanged at 750 cents and 3,800 cents respectively.

Innscor was the only heavyweight to record a loss, after shedding 0,64 percent to settle at 165,93 cents.

Leading the gainers pack were General Beltings and Edgars after picking up 33,33 percent and 37,93 percent to close at 0,8 cents and 8 cents respectively.

ART and Lafarge gained 20 percent and 11,11 percent to settle at 7,2 cents and 100 cents respectively while TSL and NMB gained 8,11 percent and 5,26 percent to settle at 40 cents and 10 cents respectively.

CFI and Meikles gained 2,45 percent and 3,46 percent to settle at 73,25 cents and 44 cents respectively.

FBC and Willdale also added 4,17 percent and 5,33 percent to close 25 cents and 0,79 cents respectively.

On the shakers side, Ariston and Axia eased 22,22 percent and 5,66 percent to close at 2,1 cents and 25 cents respectively.

FML and ZB Financial Holdings eased 1,95 percent and 2,56 percent to settle at 19,1 cents and 38 cents respectively.

On the mining space, Bindura added 5,36 percent to settle at 5,7 cents while RioZim added 1,09 percent to trade at 116 cents.

Other mining counters Hwange and Falcon remained unchanged at 3,74 cents and 2,01 cents respectively.  

Foreigners remained net sellers in the week, disposing of shares worth $21,95 million compared to buys of $12,54 million.