Heavies spur ZSE recovery…

The market rebounded in midweek session buoyed by gains in most selected heavy capitalised stocks.

The mainstream All Share Index rose 1.92% to 1,612.61pts while, the Industrial Index added 2.27% to close at 5,351.75pts. The blue chips index improved 2.86% to end at 1,008.51pts.

Headlining the risers’ pack was construction group Masimba which surged 16.43% to $6.9859, followed by fast foods group Simbisa that extended 9.73% to settle at $7.4663. Zimplow advanced 8.44% to $4.8800 while, telecoms giant Econet jumped 7.93% to $5.4470.

Hotelier African Sun completed the top five winners of the day on a 7.46% lift to $1.8000. Other notable gains were in CBZ (+6.35%), Innscor (+5.93%), Delta (+1.36%) and Padenga (+0.35%).

The Mining Index shed 10.03% to close at 2,990.09pts, weighed down by Bindura that dipped 12.26% to close at $3.0184.

Banking group NMB trimmed 10.92% to $2.2270 while, retailer OKZIM let go 0.98% to $5.4453.

Proplastics went down 0.85% to $5.8000 while, Art slipped 0.67% to $2.2547 capping the top five fallers of the day.

Thirtyseven counters were active in the session distributed into twenty-two gainers, nine fallers and six that traded unchanged to register a positive market breadth of thirteen.

Volume of shares traded dropped 79.60% to close at 12.24m, yielding a value outturn of $146.83m which was a 22.98% fall.

Driving the volume aggregates were ZB, Zimre and Econet which claimed a combined 79.72% of the total.

ZB contributed a huge chunk of 75.14% to the value outturn as other counters scrambled for the remaining 24.86%.-efesecurities