The industrial index opened the week firmer gaining 0,98 points (0,70%) to close at 140,60 points in mixed trading that was characterized by positive gains from blue chip counters.
The mining index was also up 1,66 points (0,97%) closing at 172,72 points. RioZim added 5 cents to close at 215 cents.
Bindura, Falgold and Hwange were unchanged at 11,99 cents, 7,70 cents and 37 cents, respectively.
Aico Africa’s recent winning streak continued with a 1,40 cents gain at 21,50 cents, Dairibord was 1,20 cents solid at 12,20 cents as Innscor rose a cent to trade at 50 cents.
TA Holdings advanced 0,80 cents to 25,10 cents with CBZ up 0,50 cents at 13 cents.
On the downside, Hunyani dropped a cent to 3,50 cents and Meikles eased 0,51 cents to close at 43,50 cents. CAPS shed 0.20 cents to trade at 0.80 cents, ZHL lost 0.10 cents to 1.70 cents and Willdale slipped 0,05 cents to close at 0,25 cents.
According to Tetrad Group, last week the market was mixed with 26 gainers against 17 losers while 33 counters remained static.
“Overally the industrial index was up 1,56% characterized by positive trades throughout the week with only a single day closing on the downside. The mining index closed positive after adding 7,01%,” said Tetrad.
Kingdom Stock Brokers said the local bourse’ market capitalization last week advanced 3,08% to close at US$3,48 billion although weekly turnover dropped 9,8% to US$4,97 million. Gain were extended Tuesday mainstream index gaining 1,70 points (1,21%) to close at 142,30 points as most heavyweight counters led gains.
Hippo rose from 111 cents to 120 cents whilst Econet advanced 2,10 cents to close at 488,10 cents. Aico Africa, Colcom and Innscor added a cent each to trade at 22,50 cents, 34 cents and 51 cents, respectively.
Four counters traded in the negative territory as Natfoods shed 5 cents to close at 85 cents as Star Africa eased 0,30 cents to 7,50 cents. RTG slipped 0,04 cents to trade at 1,31 cents while National Tyre Service was slightly lower at 1,10 cents.
“Liquidity remains an issue in Harare with weekly volumes averaging between US$2 million and US$3 million. The only way to get meaningful Zimbabwe exposure is participating in initial public offers and secondary offerings,” said Amstel in the report.
The mining index gained a further 6,78 points (3,93%) to close at 179.50 points on the back of gains in Hwange which inched up 3 cents to 40 cents and Bindura which went up 0,51 cents to 12,50 cents. Falgold and RioZim were unchanged at 7, 70 cents and 215 cents.
The market’s gaining streak continued on Wednesday after it was announced that full demutualisation of ZSE was now scheduled for early next year.
The demutualisation is expected to improve the local bourse’s financial agility as a profit-oriented firm, have better access to capital to support various investment projects, pursue joint ventures and widen shareholder base.
After demutulisation the local bourse is expected to be more flexible, quicker in decision making, separate interests of users from shareholders and enable it to adapt to the fast changing technology.
The industrial index was solid on Wednesday at 145,07 points after putting on 2,77 points (1,95%) on the back of widespread gains.
Heavyweight counters continued to dominate as Econet ended 8,90 cents higher at 497 cents with Hippo and Old Mutual up 5 cents each at 125 cents and 165 cents respectively.
TA improved by 4,90 cents to 30 cents and Innscor added 4 cents to close at 55 cents.
The gains were partially offset by losses in PPC which fell 5 cents to 315 cents and BAT which slipped a cent to close at 199 cents. PGI retreated 0,50 cents to trade at 3 cents, Phoenix eased 0,30 cents to close at 2,20 cents as Medtech slumped 0,09 cents to 0,11 cents
The mining index gained 3,82 points (2,13%) to close at 183,32 points as all but one traded in the positive territory. RioZim went up 5,01 cents to 220,01 cents, Hwange increased by a cent to trade at 41 cents and Falgold advanced 0,10 cents to trade at 7,80 cents. Bindura was unchanged at 12,50 cents.