- The bourse increased by 37.58 points
- Market heavies came out as the top performers
- Penny stocks extended gains to a second straight session
Harare - Following a bloodbath kick-start of the week for two consecutive sessions, Zimbabwe Stock Exchange (ZSE), recovered on Wednesday trades by adding 0.55% to close the day in the positive territory at 6,894.11 points.
A resurgence in demand for the stocks saw all indices closing in black, as fundamental continued to overtake inflation in chasing value, except for the mining index which shunned the previous gains to end at -3.11%.
Platinum prices fell last week, which was a record fall since July 2021 driven by a drop in demand which was also propped-up by an increase in the value of the US dollar during the week. Mining sector contributes almost 12% of the country’s gross domestic product (GDP).
At close day, clothing retailer, Edgars Stores Limited championed the top risers with 9.74% to close at $3.8500 trailed by Mashonaland Holdings which increased by 7.94% to settle at $38.9533.
Diversified counter, Zimplow marked the third spot on adding 7.41% to close at $2.9000 while the leading plastic pipes manufacturer, Proplastics scaled up by 5.70% to $27.0000.
The country’s largest commercial bank, CBZ Holdings inched 5.68% to end at $85.0000.
However, trade in the negative was Zimre Holdings which declined -10.80% to $3.5146 with the banking giant, NMB Bank dipping -6.25% to close at $15.0000.
Nickel mining group, Bindura Corporation lost by -5.11% to $4.6218 followed by clothing retailer Truworths which shed -4.49% to $1.90000
Sugar manufacturer, Star Africa Corporation eased -2.11% to $1.7865.
Equity Axis News
