ZSE continues to surge…

The market continued to firm in the mid-week session buoyed by gains in selected heavies. The primary All Share Index put on 2.74% to 1,632.50pts while, the Industrials gained 2.82% to close at 5,400.75pts.

The ZSE Top Ten Index added 3.74% to end pegged at 1,071.43pts while, the Mining Index was stable at 3,391.21pts for the third consecutive session.

National Foods led the risers of the day after surging 19.52% to $60.0000 while, beverages group Delta followed on a 17.82% jump to $22.7323 having traded an intraday high of $23.1500 to close with bids at that level.

Telecoms giant Econet garnered 17.06% to $4.8128 as Mash climbed 5.95% to $0.5750. Construction group Masimba capped the gainers’ list on a 5.72% rise to $2.8500.

Banking group CBZ lost a further 4.94% to settle at $37.0750 while, Zimplow let go 2.50% to $4.8749. Hotelier African Sun shed 2.20% to $1.8387 while, Dairibord trimmed 0.89% to $8.9000. Completing the top five shakers of the day was MedTech that slipped 0.75% to close at $0.0790.

Thirty-three counters registered were active in Wednesday’s session with sixteen risers, eight fallers and nine that traded unchanged, to see the market close with a positive breadth of eight.

Volume of shares traded ballooned 271.61% to 48.60m while, turnover swelled 42.16% to $98.18m. Activity aggregates were anchored by a block trade in Mash which claimed 71.40% of total volumes traded and 20.32% of turnover. Other notable value drivers were Simbisa, Innscor and Econet with a combined contribution of 59.44%.

Foreign inflows improved 99.96% to $9.08m while, outflows grew 132.41% to $74.75m to record a net funds outflow position.-efesecurities