- The local bourse surged by 1.02%
- Gains were stimulated by market heavies
- Penny stocks extended its cold performance
- Meikles Limited stretched its losing streak to three consecutive sessions
Harare – Zimbabwe Stock Exchange extended its prior session gains yesterday after closing in the black as demand continued to rise.
The bourse traded in red in the past three straight weeks amid market correction following a longer than expected period of currency stability in the country which saw stocks reaching overvalued prices at the close of the first half of the year.
As trade ended, ZSE surged by 1.02% to close at a two-week high of 6,712.96 points after gaining 67.93 points while the week to date performance increased by 0.82% and month by 0.92% respectively.
Gains were stimulated by market heavies as penny stocks continued in the negative territory after shedding -119.33 points to close at 223,897.45 points.
Meanwhile, aggregate turnover dipped by -5% from the prior session to ZWL104.93 million despite a 10% growth in volumes. Delta Corporation led turnover contributors at 38% and was trailed by Econet Wireless, Bindura Nickel Corporation, OK Zimbabwe and Cassava Smartech.
Mining counter, RioZim championed the top risers reversing its prior session loss on garnering 12% gains at $33.0000 after trading $5.0000 while Axia Limited added $2.4103 to $22.5000.
Axia Corporation Limited operates within the speciality retail and distribution sector with three operating business units, namely TV Sales and Home, Transerv and Distribution Group Africa.
Leading financial services group, First Mutual Holdings increased by $1.85000 to $15.0000 while hotelier African Sun, notched 19.74% to settle at $9.5794.
Beverages maker, Delta Corporation was $0.9541 up at $84.4681.
Trading in the negative was the diversified conglomerate Meikles Limited which stretched its losing streak to 3 consecutive sessions by a further -2.37% to settle at $91.4649.
Financial counter, Getbucks Micro Finance trimmed $0.5333 to $7.6167 with banking services provider with CBZ Holdings dipping $0.2629 to $78.7500.
Diversified food producer, Innscor Limited inched $0.1399 down to $93.3263 while Ariston Holdings extended its prior session loss by a further -2.99% to $3.0046.
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