ZSE All Share Index firm after a day’s break
HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) resumed on Thursday after a day’s break yesterday owing to an Independence day holiday. The All Share Index gained 1.48% to close at 94.61 on the back of gains in Delta, Econet and Padenga. The industrial index surged 1.49% to close at 316.85.
Market turnover was reasonable at $1.78 mln mainly on the back of trades in the heavyweight stocks. In large part, block deals in Econet, Ok Zimbabwe, Old Mutual and SeedCo accounted for this figure.
Delta added $0.0657 to end at $1.8777, Econet advanced by $0.0305 to close at $0.9001 while Old Mutual was $0.0200 firmer at $5.7000.
Padenga went up by $0.0075 to $0.4175, Barclays put on $0.0019 to close at $0.0459 and Innscor closed at $0.9785 following an increase of $0.0010.
Losses were seen in First Mutual Properties which shed $0.0063 to close at $0.0435, Axia dropped $0.0046 to $0.2310, Meikles came off $0.0017 to end at $0.2900. African Sun was $0.0005 weaker at $0.0370.
The Mining Index was unchanged at 123.53 points. Market capitalization increased to $9.01 bln with foreign trades reaching $1.23 mln at the end of the session. There were 69 trades on the day.
Meanwhile, Market Value Statistics as shown by a CSD report revealed that ZSE market capitalization continued to decline, shedding off 1% to US$8.290 billion as at 31 March 2018 from US$8.385 billion as at 28 February 2018.
The overall market decline now spans 5 successive months starting from November 2017 to March 2018. All the major indices traded in the negative with the ZSE industrials index easing 1.4%, the ZSE Top 10 retreating by 1.6%, while the ZSE All Share Index lost 1.2%.