Industrial index gains 1.14% in mid-week session…Insurer’s miss out

Industrial index gains 1.14% in mid-week session…Insurer’s miss out

By insurance24

HARARE, Turnover on the Zimbabwe Stock Exchange (ZSE) stood at $1.86 mln at the close of mid-week session with the All Share Index up a marginal 0.99 points on the back of a 3.4 points gain in the Industrial Index.

Block trades in BATZ and Econet carried the day in a session that had strong bids that were left unmatched as selling dried up. Foreign buys amounted to $1.86 mln while foreign buys were at $1.66 mln.

Bulk activity of the 58 trades were limited to Econet which saw a total 1.09 mln shares moving while BATZ had a total 49,233 shares exchanging hands.

The Top Ten Index added 1.27 points buoyed by strong gains in Econet, Delta, and PPC. Econet led the movers with a $0.0588 to trade at $0.7711, Delta added $0.0433 to close at $1.6684 and PPC went up by $0.0375 to $1.0000.

Meikles increased by $0.0171 to end at $0.2900, Innscor gained $0.0050 to trade at $0.9750 whilst Dairibord and Simbisa both put on $0.0025 to settle at $0.1225 and $0.3700.

The Mining Index remained stuck at previous levels with no activity. Demand for blue chips remained very strong amid limited selling.

However, British American Tobacco shed a significant $3.0000 to close at $17.0000 while Padenga eased $0.0050 to $0.4100.

Insurer’s activity was limited to Old Mutual alone as the other insurance counters witnessed no activity.