Heavyweight stocks push ZSE to another green close

Amid uncertainties in the economy and now in election mode, the Zimbabwe Stock Exchange (ZSE) continued its bullish run for the sixth session, giving hope to patient investors who endured long periods of downturn.

The ZSE All Share Index, an indicator used to track the general market movement of all listed equities on ZSE, gained 2,85 percent to close at 30,905.71 points.

Investors’ wealth increased by $61,02 billion to $2,74 trillion.

The Top 10 Index gained the most, up 3,98 percent to close at 18,051.27 points. CBZ topped the gainers’ chart, appreciating by 14,24 percent to close at $160.90 while Econet rose 7,80 percent to end at $207.65.

Gains in Proplastics lifted the Medium Cap Index by a negligible 0,02 percent to settle at 65,950.30 points. Proplastics garnered 1,59 percent to finish at $71.11.

On the flip side, Starafrica depreciated by 3,95 percent to end at $1.65. Ariston shed 1,78 percent to close at $11.00. African Sun fell 0,48 percent to close at $90.49. FMP eased 0,32 percent to finish at $15.45.

Truworths was the worst performing stock, declining by 14,91 percent to end at $2.38. The Small Cap Index was flat at 678,863.75 points.

Turnall and Fidelity however gained 5,96 percent and 3,44 percent to close at $8.00 and $30.00 in that order.

Market turnover declined 63,92 percent to $378.42 million from $1,04 billion. A total of 4,89 million shares, valued at $378,49 million, were traded in 164 deals.

Delta was the most active stock with 203 000 shares worth $121,99 million.

The Cass Saddle Agriculture ETF, Datvest Modified Consumer Staples ETF, Morgan & Co Made In Zimbabwe ETF and Morgan & Co Multi Sector ETF remained flat at $2.0900, $1.8500, $1.4300 and $22.0000 respectively.

Old Mutual ZSE Top 10 retreated by $0.0002 to $7.9100.

The VFEX All Share Index marginally increased by 0,03 percent to 98.2278 points. Padenga added 13,12 percent to US$0.2500.

In the red were Innscor Africa limited, Axia and SeedCo International which were down 3,38 percent, 2,17 percent and 0,18 percent to close at US$0.6745, US$0.1350 and US$0.2695 respectively.

Simbisa was off 0,06 percent to end at US$0.4297-ebusinessweekly