ZSE Daily: Stocks solidify gains in midweek session

Daily Comment 01.11.17

There was a strong demand for equities in the first day of a new month as both indices soared on the back of 14 risers. The mainstream index went up by 1.26% from the prior session to settle at 523.22.

Meanwhile, the mining index recouped its losses after gaining 0.16% to 138.27.

A total of 14 counters went up, out of the total 18 active counters while 2 edged lower in the mid-week session. Bindura was the top performer in the session which likewise drove gains in the mining index. The counter went up by 13.18% to settle at 5.41c.

TSL and Simbisa trailed with gains of 7.38% and 3.82% to 40c and 68c respectively. OK  maintained recovery on adding 3.79% to 26c. Heavy cap Padenga halted its losing spree on gaining by 1.09% to 79.02c.

RioZim stretched its rally to 3 days rally after adding 0.87% to 116c which is yet another all time high. Heavy caps  Innscor, Seedco, Old Mutual, PPC and Delta featured among the top risers.

Econet which released its 2018 interims yesterday, rose by 0.01% to settle at 182c. The company reported a firm surge in earnings of over 200% driven by a non voice revenue lines.

Elsewhere Meikles and FML weighed on the gains on losing 9.24% and 5% each to 44c and 19c respectively.

The total value of shares exchanged in the session came in at $7.5 million a 7.9% decline from the prior session. Innscor was the top value contributor with a contribution of $2.5 million trailed by Delta, Seedco, Ariston and Old Mutual. The total number of shares traded in the session were 4.5 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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