African Sun leads ZSE risers after Dawn Properties shareholders approved its acquisition offer


The local bourse extended losses to a 5th straight session on Monday taking the cumulative loss to -3.5% over the 5-day period. In a week opening session which was typically quiet, heavies dragged the market reflected through a 0.69% ZSE ASI inter-day loss.

The bourse which, at its best touched a high of 640% in year-to-date gains, has now shed almost 100 percentage points to about 544.67%. Sharper losses in August and a generally weak performance in October has sustained the losing momentum. 

An aggregate of 26 counters exchanged hands in the session with 11 counters weighing the market. The real estate counter, Mashhold, led the laggards on slumping -8.11% to close at 61.26c while the miner, RioZim, eased -6.63% to settle at 830c.

Padenga emerged 3rd worst performer on softening -6.57% to close at 1400c followed by another miner, BNC, which settled at 379.35c upon retreating -5.04%. OK, Zim trailed by -2.91% to close the market at 455.06c.

Similarly, 11 counters emerged risers and these were led by African Sun which surged for a 2nd consecutive session to close at 179.97c after Dawn Properties shareholders approved the company’s offer to acquire the company’s entire issued share capital.

Another property company FMP trailed gaining 4.55% to settle at 230c while the First Capital Bank buttressed prior session’s gains notching 3.77% to close at 55c.

The duo of Axia and Hippo capped the Top 5 risers pack at 399c and 1403.70c respectively after nothing 2.2% and 1.7% apiece.

Total turnover eased by -9.6% to $68.56 million while volumes rose by 58%. Delta led turnover contribution at 56% of the total, trailed by Innscor, Simbisa, SeedCo, and Econet respectively.

Equity Axis News


Please enter your comment!
Please enter your name here