HARARE – Stocks ended the shortened week higher ahead of the Christmas break buoyed by gains in select heavyweights as CBZ Holdings continued to sustain turnover.
Activity levels were improved with a trade count of 347. Turnover was at $92.1 million led by CBZ’s $50 million contribution. Ariston led on volume at 924 600 from a total 5.3 million shares. Foreign sales were at $23.62 million against buys of $5.27 million.
BAT Zimbabwe led the risers gaining 19.79% to 40 000c taking its market capitalisation to $8.25 billion. OK Zimbabwe added 5.34% to 783.69c and Padenga Holdings put on 5.15% to 1 900c. Marginal gains were seen in Hippo, Econet and Innscor.
At close, the All Share Index was up 1.28% to 2 243.43 taking its year to date gain to 875.02%.
The Top Ten Index, which continues to lag wider market performance added 0.83% to 1 438.20 restricted only by the marginal losses in CBZ and Delta. CBZ shed 0.89% to 6654.62c and Delta pared 0.06% to 2 497.14c.
Mid-Caps were the best performing with the associated index gaining 2.13% to 4 573.78. Ariston rose 7.52% to 134.21 in the wake of its year end results where the group reported a 66% drop in profitability. Bindura was 4.36% higher to 357.57c following reports that the government now has a stake in the company through Kuvimba Mining.
The Small Cap Index added 0.23% to 10 567.45 after Edgars put on 6.67% to 120c as it improved its market cap to $392.39 million.
The gain was held back by losses in Fidelity, which shed 10.53% to 170c ahead of its takeover by Zimre Holdings, and Star Africa which lost 4.04% to 25.43c.
Masimba shed 0.58% to 1 010 but remains with a solid year to date gain of 5 495.57%.-Financial Express.
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