ZSE records 140pc gain

Chronicle (Zimbabwe) - - Worldwide - Harare Bureau

THE Zim­babwe Stock ex­change ram­paged again yes­ter­day tak­ing its year-to-date gain to an un­prece­dented 140 per­cent gain and its mar­ket cap­i­tal­i­sa­tion much closer to the $10 bil­lion mark.

By the close of trad­ing the main In­dus­tri­als In­dex was up by 10,32 per­cent, its big­gest one day gain, to 347,63. The min­ing in­dex how­ever re­mained un­changed at 82,2 de­spite a 9,37 per­cent gain in Bin­dura to 3,5 cents.

Turnover for the day at $9,03 mil­lion was one of the high­est for the year in a sin­gle day.

For­eign­ers in­vestors, quiet for the bet­ter part of the year were very ac­tive to­day, sell­ing $3,5 mil­lion worth of shares while buy­ing just above $104 000 worth of shares.

Stocks that sup­ported the up­ward trend were starafrica which was the day’s top riser with a 67,18 per­cent gain to 2,19 cents. Brick­mak­ing com­pany Will­dale fol­lowed with a 58 per­cent gain to fin­ish the day at 7,9 cents.

Other top ris­ers in­cluded agro con­cern Aris­ton up 52,14 per­cent to 2,13 cents, prop­erty com­pany Zimre Prop­erty In­vest­ment up 37,22 per­cent to 2,47 cents and hote­lier African Sun up 20 per­cent to 2,88 cents.

Big cap stocks also con­tin­ued to trade in un­char­tered ter­ri­tory with Delta putting on 13,28 per­cent to 222,34 cents. At least 1 mil­lion Delta shares worth $2,37 mil­lion changed hands on the day.

Econet re­versed Tues­day’s losses pick­ing up 16,2 per­cent to 77,11 cents. The com­pany has been in the news af­ter it de­cided to in­crease its share buy­back thresh­old to 20 per­cent from the nor­mal 10 per­cent.

The com­pany also paid a quar­terly div­i­dend in what might be the first time for a ZSE listed com­pany where div­i­dends are nor­mally paid by-an­nu­ally or an­nu­ally.

Seed Co added 19,9 per­cent to 230,5 cents. As we re­port else­where the com­pany is look­ing to raise $30 mil­lion amid plans to list on a re­gional ex­change.

Fast foods re­tailer Sim­bisa brands put on 10,28 per­cent to 71,96 cents as it con­tin­ues to trade un­der cau­tion­ary amid it’s on plans to list on the Lon­don Stock Ex­change AIM board. More than 1,5 mil­lion Sim­bisa shares worth just above $1,1 mil­lion were traded.

The day’s big­gest trade was in croc­o­dile skin ex­porter Padenga, where more than 5,1 mil­lion worth $5,1 mil­lion changed hands.

A to­tal 24 stocks closed pos­i­tive while 5 traded un­changed.

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