Lo­cal in­vestors push ZSE in­dex higher

Chronicle (Zimbabwe) - - Business -

THE Zim­babwe Stock Ex­change in­dus­trial in­dex gained 2,55 per­cent to close at 126,36 points for the week on Fri­day while the min­ing in­dex ad­vanced by 8,87 per­cent to 38,89 points as ap­petite for stocks among lo­cal in­vestors re­mains firm.

Seedco and OK Zim­babwe gained 9,76 per­cent and 3,72 per­cent to set­tle at 90 cents and 5.02 cents re­spec­tively.

Econet, Delta and BAT also ad­vanced 3,67 per­cent, 2,49 per­cent and 1 per­cent to close at 28 cents, 76,25 cents and 1,550 cents in that order. Sim­bisa, Innscor and Old Mu­tual were largely flat. The prop­erty com­pa­nies, Masimba and Pearl led the gain­ers pack af­ter pick­ing up 44 per­cent apiece.

Fi­delity was the only loser, shed­ding nine per­cent to trade at 10 cents. On the min­ing space, the min­ing in­dex rose on the back of the gains recorded by Bin­dura and RioZim, which added 20 per­cent and 0.10 per­cent re­spec­tively. Hwange and Fal­con traded sta­ble at three cents and 0.6 cents re­spec­tively.

Mar­ket cap­i­tal­i­sa­tion in­creased by 2.64 per­cent to $3,486 bil­lion. Ad­di­tion­ally, to­tal mar­ket turnover in­crease by four per­cent to $3.254 mil­lion with av­er­age daily trades of $ 650,805.

For­eign­ers re­mained net sell­ers dur­ing the week, with pur­chases of $41,258 and sold shares worth $2,594 mil­lion. As such, the lo­cal bourse records 41 per­cent for­eign par­tic­i­pa­tion in the week un­der re­view. — The Source

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