ZSE index surges 16,8%

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Discounted market capitalisations are prevailing on the Zimbabwe Stock Exchange.

The mainstream industrial index surged 16,8% in May buoyed by strong demand for equities in the market.

Staff Writer

The index closed at 162,34 points on the last day of trade in the month, upn 16,80% from the prior month.

Renewed interest in shares has pushed the index further.

On the industrials side, gains in Ecoent the past couple of weeks and gains in other counters helped drive the index. The share price was last week trading at 27 US cents, which saw the group’s market cap jumping from US$387 million to US$626 million, creating value of US$239 million in capital gains.

This week the stock was trading 30,50 US cents in Wednesday trade.

Its valuation matrices are still looking good, analysts reckon.

The mining index also increased in the same month, up 18% to close at 69,63 points driven by gains in RioZim.
Gains across the board have seen the ZSE gaining significantly.

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