ZSE closes week in the black

HARARE - The Zimbabwe Stock Exchange (ZSE) closed last week in the black as indices remained flat with the Top Ten Index marginally rising.

The Top Ten Index was buoyed by gains in heavies Delta, Econet and Old Mutual, gaining a marginal 0,07 percent despite losses in conglomerate Innscor as gains in the trio managed to maintain the index in the black.

Resultantly, the Top Ten Index closed last week at 86,04 points, while the other three indices remained unchanged.

The Industrials, All share and Mining indices were stable at 291,78 points, 87,21 points and 125,09 points respectively.

RioZim traded flat at $1,2075 while Bindura, Hwange and Falgold recorded no trades.

Five counters gained against two losers, while, 11 remained unchanged leaving the market with a positive breadth.

Brick manufacturer Willdale led the risers of the day with a 20 percent surge to settle at $0,0060, closing well offered at that level.

Edgars was up 1,10 percent to $0,046 as 61,379 shares traded, followed by Delta which advanced 0,32 percent to end pegged at $1,6057.

Econet and Old Mutual completed the risers pack as they ticked up 0,19 percent and 0,03 percent to settle at $0,6713 and $5,6226 respectively.

Meikles and Innscor emerged as the only fallers of the day as the duo slumped 9,03 percent and 0,74 percent to $0,2729 and $0,9628 apiece.

Activity for the day was mixed as volume of shares traded surged 222,94 percent to 10,16 million shares yielding a value of $1,66 million which dropped 8,76 percent from prior session.

Dairibord and Barclays had respective contributions of 60,48 percent and 27,63 percent to the volume aggregate.

Anchoring the value outturn for the day were Dairibord again, Innscor, SeedCo and Old Mutual that claimed a combined contribution of 86,04 percent.

Foreign buys slumped 83,7 percent to $204 000 down from $1,2 million prior day as foreign disposals marginally increased to $462 000 from $448 000.

The number of trades was also down seven percent to 52 from 56 percent.

The market — which faltered as it opened in March with a total market capitalisation of $8,7 billion after shedding 1,19 percent in the week to March 2, 2018 — has been recording high foreign purchases.

In the week leading to the Easter holidays, the market’s foreign purchases swelled 5 298 percent to $1,60 million from $254 490 accounting for 86,71 percent of the day’s turnover.

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