Local bourse post biggest gains in 2 weeks as US company readies COVID-19 vaccine

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*Performance Charts incl (ZSE indices, ZSE Value Traded, Interbank)

Trades on local bourse remained choppy further into the new week as US drug-maker signalled  vaccine for COVID-19 might be ready before the  year ends. Drugmaker Pfizer said its trial version drug was 90% effective having tested it on 94 subjects. The company said over 50 million doses will likely be distributed before the year end before a projected 1 billion doses in 2021. Pfizer is 1 of 4 US companies researching and developing a COVID-19 vaccine in the US. Meanwhile markets were already bullish following Biden’s win over incumbent Trump, sending global currencies up. The Zimdollar is expected to remain under pressure given increasing demand ahead of the festive as well as a slowdown in gold production into the rainy and lean season.

An aggregate of 31 counters exchanged hands in the session, up from 23 in the previous session and of these, 11 emerged risers. Innscor surged 13.31% to close at 2449.31c, a 4th straight session win. The financial stock, NMBZ buttressed prior gains by 7.41% to settle at 290c while AfDis emerged 3rd best performer on notching 5.26% to 2000c/share. The duo of Meikles and Ariston capped the Top 5 risers pack on gaining 3.23% and 1.85% each to close at 1600c and 132.40c respectively.

A set of 10 counters came out losers with SeedCo performing the worst on slumping -11.34% to close at 1507.23c. Hospitality counter, African Sun closed -7.21% lower at 171.67c/share trailed by a -7.08% loss in Willdale which closed at 22.30c. General Beltings tumbled by -3.88% to settle at 16.34c after a week of inactivity, leaving Proplastics to cap the Top 5 laggards set at 564.74c/share upon easing -0.93%.

Total turnover bounced by 1979% from prior record to $444.40 million while volumes relatively shot up by 902%. CBZ led turnover contribution at 86% of the total, trailed by Delta, Turnall, SeedCo and Econet respectively.

UPCOMING EVENTS
COMPANYEVENTVENUEDATETIME
UnifreightEGMRoyal Harare Golf Club12 November 20201100Hrs
AfDisVirtual AGMescrowagm.com/eagmZim/Login.aspx13 November 20201230Hrs
SimbisaAGMSAZ, Northend Close, Borrowdale, Harare20 November 20200815y
     

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