- The bourse increased by 44.09 points
- Gains in market heavies cancelled small cap losses
- Dairibord extended gains to a third straight session
- Penny stocks declined by 0,87%
Harare - Zimbabwe Stock Exchange (ZSE) recovered from the prior session losses as demand recovered on yesterday’s trade.
The All Share Index gained 0.67% to close in the positive territory at 6,645.03 points stimulated by market heavies gains of 1.4% which shunned the 0.87% decline in penny stocks.
As a result, aggregate turnover rose by 298% from the prior session to ZW$110.64 million against 197% volumes growth. Delta led turnover contributors at 34%.
At close day, gains were propelled by the leading technology group, Cassava Smartech which rallied $2.3207 to end at $18.8571, partially reversing its prior session losses while the milk processor, Dairibord Zimbabwe extended gains to a third straight session on gaining 5.5% after increasing $2.1598 to $41.4186.
First Mutual Holdings scaled up by $1.1429 to close at $25.6429.
Zimplow reversed its prior session loss by rising 5.5% after trading at $0.8251 to $15.9338 while the banking counter, NMB Limited posted gains of $0.5729 to close at $16.0000.
However, trade in the downside was the leading life assurance service provider in Zimbabwe, Fidelity Life which slumped by -20% on shedding $2.0000 to closer lower at $8.0000. The company has pillars in life assurance, asset management, financial services, medical cover and actuarial consultancy fidelity life.
Diversified conglomerate, Meikles Limited tripped $1.3161 to end at $93.6839. Meikles Limited is primarily invested in the agriculture, hotels and retail sector operating six business segments namely hospitality, retail stores which include department stores, supermarkets and wholesalers, and agricultural, financial services and security.
Sugar producer and marketer, Hippo Valley Estates traded lower at $1.0596 to $188.8904.
Hippo Valley Estates Limited is a subsidiary of Tongaat Hulett Limited and is primarily involved in growing and milling sugar cane in Zimbabwe.
Meanwhile, Axia Limited succumbed $0.9991 to $20.0897. The company sells home-ware furniture and electrical appliances through 38 nationwide retail outlets and retails automotive spares across multiple channels with a footprint that stretches to Zambia and Malawi.
CBZ Holdings reversed its prior session gains by shedding $0.9852 to end at $79.0129. It is the largest commercial bank in Zimbabwe measured by assets and deposits.
The mining index closed in black as it inched 3.77% to close firmer at 6,516.83 points.
Platinum prices gained 1.8% to $1,024 per tonne last week, reversing a prior week loss as demand for the metal surged from the largest consumer China and investors moving away from the US dollar.
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