The mainstream index continued on an upward trajectory notching a huge 1.31% up to close at 217.9. The gains were driven by mid to small cap counters as the entire market catch the rallying fever. The mining index however remained flat at 74.04 with none of the mining counters trading ahead of their previous close.
24 counters exchanged hands up from 21 counters in the previous session and of these 15 went up while 3 came off and the remainder closing stable. General Beltings doubled its share price in the session to 0.44c to close the session as the top riser.
Demand has now spread to and highly concentrated in mid and small caps as the heavies become overbought in the rallying frenzy where the stock market’s industrials has gained a significant 50.8%.
NMB which released its interims this afternoon trailed closely with a 20% gain to 5.10c. the bank recently saw a substantial change in shareholding structure.
Padenga the crocodile breeder went up by 12.72% to 35c while Pearl and Simbisa gained 10.8% and 6.74% to 4c and 33.10c respectively. Heavies Econet, Seedco, Delta and Old Mutual also featured among the top risers.
PPC closed stable at 71.25c after the company’s Zimbabwe unit reported a double digit growth in volumes in the second quarter which together with a strong performance from the rest of Africa impacted positively on the overall group volumes performance.
ZPI was likewise stable after reporting a 7% dearth in revenue which was attributed to a decline in rental income as voids increased by 1%.
Edgars was the worst performer with a loss of 3.85% to 5c, trailed by Masimba which lost 3.28% to 5.90c. Proplastics capped the losers with a decline of 1.76% to 6.82c.
Turnover in the session improved by 144% to $0.63m from the prior session. Pearl was the top value contributor trailed by Econet, Powerspeed, Old Mutual and Padenga in that order. The total number of shares exchanged in today’s session came in at 9.4 million.
