BAT Zimbabwe, CBZ lead ZSE rally

HARARE – BAT Zimbabwe led the stock market onslaught on Tuesday as the All-Share Index surpassed pre-suspension performance levels.

The market has now returned 688.83%, which puts it back above the June 26 levels of 677.41%. BAT nearly limited up with a 19.99% to 33 90c taking its year-to-date gain to 611.62% and CBZ added 16.62% to 3 848.33c. The gains saw the Top Ten Index put on 5.58% to 1 166.41. Other heavyweight gains were marginal, with Delta up 6.44% to 2 343.97c as its market cap rose above $30 billion to $30.1 billion.

Econet rose 4.21% to 677.36c and Innscor closed 1.09% higher to 3 033.22c.

The wider market added 4.72% to 1 815.03 although activity levels were subdued with a trade count of 259. Turnover was $54.52 million with Delta contributing the most at $14.79 million. Cassava led volume traded at 1.94 million shares.

Foreigners were net sellers at $6.54 million against buys at $3.63 million. The market breadth was firmly positive after 25 counters registered gains against five decliners.

RioZim added 19.56% to 1 076.06c and African Sun was 13.97% higher at 180c. The Medium Cap Index was 3.55% up to 3 659.48.

NMB gained 16.81% to 295.92c to lead the Small Cap Index to a 0.29% rise to 9 531.50. The gain was restricted by losses in Star Africa and Mash Holdings, which were the worst performers after they lost 7.59% and 3.04% to 24.11c and 64.09c respectively.

Dawn, which is set for delisting, was 0.79% down to 62.5c.-Financial Express.

– HMETRO