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The ZSE benchmark index took a breather on Tuesday snapping a 13 day rising streak. The index eased by 0.18% to close at 197.92 rolling back after earlier indications pointed to hitting the psychological 200 points mark in under 2 weeks. The mainstream losses were largely driven by heavy cap losses. The mining index closed stable at 69.98.
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Despite the market plunge the overall number of active counters improved from 17 yesterday to 21 counters in today’s session. An increased number of stocks at 5 closed in the negative territory while 11 counters went up.
Dairibord was the session’s top riser notching 8.37% to close at 6.99c. The milk producer has gone up by a respectable 16.5% year to date. Closely trailing was ZPI which recouped prior losses as it went up by 8% to 1.35c.
CFI, which is at the centre of a heated shareholder tussle defied market noise rising by 7.14% to close at 18c. Despite the turbulence as the Rudlands and NSSA battle against Nic Van Hoog the counter has soared a significant 84.8% year to date. This in part is attributed to counter bids by either sides as they scale their respective holdings in the company. .
Ok and Proplastics gained 3.16% and 2% each to 9.80c and 5.10c respectively while heavy caps Delta and Econet featured among the risers.
Among the losers was Meikles which waned 19.83% to close at 20.05c. The counter touched a top price of 30.92c after announcing improved earnings and a possibly acquisition deal by Alwardy of Dubai. Talks over the acquisition has since faltered.
FML pared by 11.02% to 10.5c as it takes a breather in a year where it has enjoyed a tremendous rally. Seedco Axia and Old Mutual capped the fallers set.
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Turnover went up by 28.9% to $1.2 million from the prior session. Delta, Econet Old Mutual , CBZ and Padenga were the top value contributors. The total number of shares traded in the session came in at 4.7 million.