The mainstream index stayed on course to touch a new all time high after another solid outturn in the session today. The index notched 1.23% up to close at 232.87 taking its week to date gains to 2.85% and in turn trimming the margin against the all time high level to just 1.9%. The current stock market bull run is poised to be strongest since dollarisation given the diminishing allure of alternative monetary assets. The mining index remained bearish easing by 0.34% to 69.54 on sustained BNC plunge.

Medicaments distributor and penny stock Medtech emerged as the top riser in the session adding a solid gain of 25% to 0.05c which brings its cumulative year to date gain to 150%. The emergence of demand in small cap counters highlights the extend to which the market has become overbought. Investors are now looking at the bottom end of the market for value.

Statistics show that 9 of the top 10 capitalised counters on the ZSE are up year to date with heavies Econet and Delta enjoying 57% and 54% gains on that year to date scale while dual listed Old Mutual and PPC are exhibiting significant premiums to the JSE and LSE prices.

The heavies Econet and Delta were among the session’s risers together with Seedco which is unbundling its regional operations and seeking  alternative listing on the BSE.

Elsewhere Simbisa maintained rising tally adding 9.84% in  the session to close at 41.19c which is yet another all time high for the counter. Simbisa recently extended a cautionary statement advising that the company is seeking a secondary listing on the LSE’s alternative bourse. The company aims to pull funds for purposes of capitalizing its regional expansion drive.

OK added 7.13% to close at 13.98c coming close to beat the 100% gain mark on a year to date scale. OK is one of the few companies to exhibit strong recovery in the just ended full year financial period.

Padenga hit yet another all time high on adding 4.35% to close at 42c while CFI likewise scaled to an insane all time high of 68.75c on adding 1.82% in the session, as the tussle for control.

Value traded came in at $0.89 million which is an gain of 28.6% on the previous session. Heavies dominated value contributions led by Econet and Delta. PPC which recently announced that Afrisam, a company it intended to acquire has indicated an intention to alter the heads of terms with regards to tabled merger.