• The bourse eased marginal 6.54 points
  • Axia, FMP emerged worst performers
  • Penny stocks closed on firmer note
  • September closed with an eight-month record high of 28.98%

Harare - Zimbabwe Stock Exchange’s (ZSE) performance retreated on Thursday after shedding a mild 0.08% to close lower at 8,580.16 with losses skewed towards market heavies due to higher sell-offs, inspired by profit-taking.

The bourse saw a record high of 28.98% in September, the highest in eight months.  Monthly gains were driven by market heavies, and the profit-taking is therefore pinned on top-dog companies, leaving penny stocks room for growth.

At close day, the diversified retailer, Axia Limited emerged as the worst performer as it extended its prior session losses with -13.94% to close at $28.6581 followed by the insurer, First Mutual Properties which lost -10.68% to $12.0577.

Miner, Bindura Nickel Corporation, and food producer, National foods both tumbled by -9.61% each to $5.1542 and $680.6667 respectively.

Diversified retailer, OK Zimbabwe countered its prior session gains on retreating -6.49% to cap the top five laggards at $20.4255.

However, on the upside were 17 counters with General Beltings leading the top five risers at 14.33% to close at $2.2000, extending its upward trend to five consecutive sessions while tobacco marketer, TSL enjoyed a 12.15% increase to $61.6818.

Cigarette maker and seller, British American Tobacco scored 11% to buttress its gaining streak to $1,990.30. Technological giant, Cassava Smartech countered its prior session losses by gaining 4.3% to settle at $34.4566.

Farm equipment maker, Zimplow capped the top five risers by extending gains to a sixth straight session after increasing by 3.85% to close at $19.9723.

Equity Axis News