Equites soar as dash for stocks continue

The dash for stocks remained alive taking the industrials deeper into fresh territory. On Tuesday, the stock market added 4.67% to close the session at 315.1. The average daily gains have soared in recent weeks coming in at 3.4% in the last 3 weeks which compares to a lower average year to date intercession gain of 1.2% highlighting the firming demand. The industrial index is now up by 118% year to date powered by 51 risers out of the 59 active counters on the ZSE.

Willdale was the session’s top performer jumping by 42.8% to settle at 0.50c. NMB and Turnall trailed at a distant with an upsurge of 20% apiece to 9c and 1.20c respectively, the duo has gained 130.4% and 15.8%  since the beginning of the year in that order.

Overall, 25 stocks exchanged hands and of these 17 went up including 6 top tier counters. Only one counter Econet, recorded losses, coming off by -7.8% to close at 66.36c after 16 straight sessions of gains.

Proplastics went up by 19.94% to 7.94c whilst Innscor gained 19.71% to 121.21c. Heavies Old Mutual, Padenga, Delta, Natfoods and BAT were among the risers in the session.

The total value of shares exchanged in the session declined by 2% to $1.7 million. Econet contributed 65% to the total turnover trailed by Delta, Innscor, Padenga and CFI. The total number of shares in the session was 4.3 million.

Equity- Axis

Equity Axis is an online financial media service platform focused on African markets offering real-time stock quotes, news, analysis and data.

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