The local bourse took an early breather after just 7 sessions in the black. The industrial index, although rallying, has seen erratic gains in recent sessions as stability falters after a strong rally. The index closed the session on Tuesday 0.15% weaker at 200.15 driven by losses in market heavies. The resources index however remained flat at 69.00.
On aggregate 21 counters exchanged hands in today’s session and from that total 7 stocks ended in the positive while 4 trended southwards with the remainder sailing at stable prices.
Despite the positive breadth the losers outweighed gainers to emerge with a net index loss. Weighing on the market was Barclays which shed 15.29% to close the session at 3.60c. The counter is however trading up 12.5% year to date having received a positive sentiment after a strong full year financial performance as well as clarity with regards to the bank’s sale to FMB of Malawi.
Other financial services stocks Fidelity and FBC came off by 1.79% and 0.27% to close the session at 13.75c an 13.5c respectively. Telecoms giant capped the fallers set after shedding 0.05% to close 37c.
African Sun was the session’s top bull rising by 11.11% to close the session at 2c amid bullish projection by the hospitality entity. The company has realized a sharp turn in performance post restructuring while a favourable environment is expected to buoy performance.
Trailing the top riser was retail stock , Truworths which added 2.94% to close at 1.05c. Simbisa marginally went up by 1.22% to close the session at 20.75c after publishing a cautionary statement announcing a secondary listing on the AIM and an engagement over a possible acquisition of a regional business with complimentary operations.
Willdale gained by 2.50% to close the session at 0.41c while Dawn capped the upside after gaining 1.11% to close at 1.82c.
Turnover in the session went up to settle at $1.7 million with top contribution coming from ZPI, Delta, CBZ,OK and Old Mutual in that respective order. The total number of shares traded in today ‘s session came in at 27.9 million.
