HARARE – Zimbabwe Stock Exchange shares roared on Monday in a session typically synonymous with the last week of a year. Gains were across the board with the session yielding 23 advancers and only five decliners.
RioZim led the risers gaining 22.86% to 1 474.34c after about 2.5% of the stock worth $41.79 million traded. The mining stock, which has seen the major shareholder consolidate its stake in the group, contributed the most in volume and turnover in 18 trades. Its performance in the year to date is currently lagging wider market performance at 528.45%.
Turnover was at $102.7 million with activity levels subdued at a trade count of 270 against a ZSE target of 1 000 trades. First Capital Bank was the most active with 30 trades. Foreign sales were at $16.77 million against buys of $631 221.
At close, the All-Share Index jumped 4.99% to 2 355.48 as it inched towards 1 000% returns for the year. CBZ shone for the heavyweights after gaining 19.99% to 7985c as it continued its surge towards a $100 million market cap. The financial services counter which has a 52-week low price of 62c, is now sitting on $54.87 million market capitalisation. Cassava was up 11.54% to 500.80c and other gains albeit marginal were in OK Zim, Padenga and Econet as the Top 10 Index rose 6.89% to 1 537.34.
The Medium Cap Index was up 1.74% to 4 653.40 spurred on by Dairibord, which was up 18.65% to 1 060.81c in five trades of low volumes as the market awaits the finalisation of its merger and acquisition transaction with Dendairy. Axia put on 15.24% in seven trades to end the session at 760.95c.
The gains were reversed by losses in Zimre Holdings, which lost 19.25% to 208.00c in a single trade. Banking stock First Capital was 7.11% weaker at 64.96c while Bindura Nickel slipped 0.72% to 355.00c in the wake of its results, where the group reported a 43% drop in profitability.
The Small Cap index put on 4.02% to 10 992.72 as its year to date increased to 1 625.02%, the most in the year. This was despite the marginal 0.67% loss to 119.21c in clothing retailer Edgars.-Financial Express.
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