ZSE trade sideways in month’s closing session

The Zimbabwe Stock Exchange (ZSE) scratched some gains in the last trading session of October which saw the benchmark indices close mixed. By close of trade, three of the benchmark indices were pointing southwards.

Small and medium caps led the risers of the day. The primary indicator, the ZSE All Share Index remained almost flat at 11,329 points. The Small Cap paced the fastest with a 5 percent increase to 330,018 points while the Medium Cap rose by a marginal 0,4 percent to 22,045 points.

Beverages maker, Delta led value drivers accounting for 34 percent of total value followed by Econet at 16 percent. Hippo, Innscor and Simbisa also competed the top five value drivers accounting for 13, percent, 8,1 percent and 8 percent respectively.

In terms of volume, sugar processor, Star Africa was the value leader accounting for 33 percent of the total shares that exchanged followed by Ariston at 13 percent. MedTech, Delta and Econet competed the top five value drivers.

CFI led risers for the day with a 19 percent increase to $59,15 followed by property firm Mashonaland Holdings which put on 18 percent to $3,50.

Mining and agriculture implements firm, Zimplow rose 14 percent to $23 while ART rose 9 percent to $10. At $38, Unifreight wrapped the week’s top five risers.

Banking group CBZ led the laggards of the day after it dropped 19,84 percent to $92,05 followed by NMB which trimmed 7 percent to settle at $12,01. At 16,33 cents, MedTech was 6 percent lower as the group is set to seek shareholder approval for name change to Bridgefort Capital Limited following transactions that should transform the company into a private investment equity investment company.

Also on the downside, Turnall went down 3,7 percent to $6,10 while hotelier African Sun capped the top five shakers of the day with a 3,2 percent decline to fall to $10.-eBusiness Weekly