ZSE Daily Comment 10.07.17

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MbCAThe mainstream index maintained gaining mode into the new week as it notched 0.17% to close at 198.27 which is 1.7 points shy of the psychological 200 points mark. The mining index on the other hand  remained unchanged at 69.98 for the 3rd session in a row.

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A total of 17 counters exchanged hands in the session and of these 10 went up while 3 came off with the remainder sailing at stable prices. Financial stock NMB topped the risers with a 8.97% gain to 4.25c to reverse earlier year to date losses.

Only one banking CBZ is trailing its year opening levels, the counter was stable on Monday unveiling a $11 million housing project in Victoria Falls. FML went up by 4.89% to 11.80c stretching its year to date to 181% which ranks it among the top movers year to date.

TSL  and Star Africa rose by 3.10% and 1.69% to 23.25c and 1.20c respectively. Star Africa has seesawed in post earnings  trades as investor digest the full year numbers which showed an improving operating performance and an unfavourable debt position.

Econet rallied to the 12th successive session adding 0.69% on Monday to close at 36.25c. Other heavies including Innscor and Delta featured  among the session’s risers to solidify gains.

Proplastics closed stable after receiving shareholder’s approval to construct a $5 million factory which is expected to start operating in the third quarter after regulatory approvals.

On the downside was Masimba and ZPI which pared 15% and 7.41% to 4.08c and 1.25c respectively. Seedco capped the losers set on shedding 0.01% to  close at 144.99c.

daily 2Turnover in the session went up by 119.4% to $0.96 million from the prior session with top contribution coming from heavy cap Delta. Innscor, Seedco, Old Mutual and Star Africa featured among the top value drivers. The total number of shares traded in today ‘s session came in at 5.9million.

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