Industrial index sets new all-time high as ZSE gains 11%

 Industrial index sets new all-time high as ZSE gains 11%
Published: 23 September 2019
The ZSE continued its recovery with an 11% rise, as counters across the board made strong gains. The session yielded 21 gainers against one faller, with the top gainers pushed by small trades while Old Mutual dominated market turnover.
The markets recent resurgence was prompted by a series of unexpectedly sharp depreciations in the parallel market exchange rate last week. Presently, the rates have reportedly retreated, however it appears investors are waiting for the dust to settle, with listed equities presenting a viable avenue for value preservation.
At the close of trade market capitalization stood at $28.37 billion (US$1.92 billion) while turnover reached $5 million (US$0.34 million) with 2.1 million shares traded in 120 trades. Dual listed Old Mutual drew the highest value traded at $2.1 million in 15 trades as it gained 3.2% to close at $37.7514 (US$2.53). Delta drew the most trades with 22 valued at 1.4 million as it gained 18.3% to close at $4.2885 (US$0.29).
On the other highly capitalized counters; Econet drew 10 trades worth $124k as it gained 19.9% to close at $1.7225 (US$0.12), Cassava drew 13 trades worth $147k and British American Tobacco gained 9.4% to close at $35 (US$2.35) in five trades valued at $315k.
On the dual listed stocks; PPC drew one trade worth $29.5k and SeedCo International closed unchanged at $2.2053 (US$0.15) after no trades.
The rising big caps saw the All Share Index close 10.63% higher at 217.25 and the Industrial Index pass the 700 mark and set a new post dollarization high with a 10.66% rise to close at 724.67. The Top 10 Index gained 13.49% to close at 206.98 while the Minings Index advanced 6.05% to 278.38.
Manufacturing stock Proplastics led the top gainers with a 20% rise to close at 57.6 cents in four trades worth $8640. Brick manufacturer Willdale followed with a 20% to close at 3 cents, leaving its YTD at +244.83%. Retail stock OKZim closed 19.95% higher at 50.8 cents, leaving its market cap at $617.74 million. Cassava gained 19.93% to close at $1.7075 (US$0.11) and leave its YTD at +19.31%. Dual listed PPC advanced 19.92% to close at $2.95 (US$0.20), leaving its YTD at +55.26%.
Retail stock Powerspeed was the session's only faller with a 10.7% loss to close at 25.05 cents in four trades worth $66.7k.
- finx
Tags: ZSE,


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