Sustained market-wide demand saw equities scale higher on Tuesday albeit at reduced trading levels. The mainstream index went up 1.57% to take its tally to 8 sessions straight without dropping a single point. On adding points in the session to 427.53 the index stretched its year to date gains to 195.9%, which is marginally shy of the psychological 500 points mark. The mining index went up by a further 6.98% in the session to settle at 139.56.
Heavy Natfoods led 11 risers in the session today, as it notched by 19.98% to settle at a new all-time high of 604c. Natfoods released its full-year results to June, last week, showing a 12% decline in turnover which in turn was weighed by a 10% decline in sales volumes.
Econet traded in new territory after adding a strong 8.82% to close at 92.58c a new all-time high. The counter had prior to today’s session, failed to break past the 85c mark which was an all-time high. Econet is now up 208.67% year to date.
PPC which recently reported a sustained outperformance at the new Harare plant went up by 8% to 155c while ZPI rose by 3.85% to settle at 2.70c. Seedco and Old Mutual featured among the risers together with miners BNC and Hwange. Hwange’s gain comes after the company reported an 82% decrease in coke sales volumes which it attributed to a cancellation of toll coking arrangements.
RTG capped the risers in the session with a gain of 0.22% to 4.51c which follows a weak but improved financial performance in the just ended half year period.
The session closed with 4 losers with CBZ emerging as the worst performer as it came off by 3.61% to 24.90c.Trailing was Axia which lost 2.45% to 33.05c. Delta and Innscor completed the fallers set.
The total value traded edged lower by 59.5% to $2.2 million from the prior session. Innscor contributed 50% to the total turnover trailed by Delta, Powerspeed, Axia and Old Mutual in that order. The total number of shares exchanged in the session came in at 6.4 million.