- Blue-chips led the top five risers
- The bourse increased 0.83%, the highest in the last ten sessions
- Penny stocks extended the downward trend
Harare - The local bourse closed Thursday’s session on a firmer note, registering a third consecutive gain of the week owing to the resurgence of demand amid market correction.
Zimbabwe Stock Exchange (ZSE) inched 0.83% to close at 6,769.01 points, the highest in ten of the previous sessions.
Consequently, aggregate turnover rose by 30% from the prior session to ZWL135.86 million despite a -17% decline in volumes. Econet Wireless led the turnover contributors at 34%.
Gains were stimulated by market heavies who led the top five risers while the penny stocks continued on a downward trend after dipping -89% to close lower at 221,895.00 points as fundamental overtake inflation in driving value.
Financial stock, ZB Financial Holdings, led risers in the session on notching 20% to close at $96.0000 after gaining $16.0000 followed by the diversified food producer, Innscor Africa which jumped $6.6737 to end at $100.0000.
Canteens and fast foods counter, Simbisa Brands closed higher at $43.9735 after rising by $3.9540 while the country’s largest commercial bank by deposits and assets, CBZ Holdings buoyed $1.2500 to $80.0000.
Meanwhile, the largest local telecoms operator, Econet Wireless edged $0.5413 up to $35.0476.
However, on the downside was the seed producer and marketer, Seed Co which fell by a further -6.66% to $70.0014. The Group commissioned a US$13 million maize seed conditioning plant this week on Wednesday which is expected to enhance its maize seed supply capacity for both local and regional markets.
Sugarcane grower and sugar refiner, Hippo Valley Estates succumbed $1.8663 to $187.0241 while hotelier, African Sun partially countered its prior session gains on slumping -13.82% to settle at $8.2556.
Milk processor, Dairibord Holdings eased $1.0000 to $41.0000 despite registering a 54.5% growth in sales volumes for the first half-year ended 30 June 2021 with the leading plastic pipes manufacturer, Proplastics trading lower at $0.7479 to settle at $27.1600.
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