ZSE market capitalisation hits US$5 billion

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Discounted market capitalisations are prevailing on the Zimbabwe Stock Exchange.

THE Zimbabwe Stock Exchange (ZSE)’s market capitalisation reached US$5 billion on Tuesday after the industrial index rallied by 0,65% to close at 171,48 points, its highest since September 30, 2014.

Historically, the local bourse reached a peak market capitalisation of US$6 billion in July 2013. ZSE market capitalisation closed at just over US$5 billion after 16 counters recorded gains. The largest company by market capitalisation, Delta, advanced 0,6% to close at 100,65 cents.

Other heavyweights, Econet and Old Mutual, gained 1,4% and 0,1  percent in the day to close at 36,5 cents and 377,42 cents respectively while Padenga added 0,2% to settle at 21,3 cents. Leading the gainers was Zimpapers after picking up 33,33% to close at one cent while Mashonaland Holdings and CFI advanced 11,67% and 8,66% to close at 2,01 cents and 14,18 cents respectively.

ZPI and FBC gained 8,33% apiece. The mining index was flat at 69,63 points.
Turnover for the day was US$1,46 million. Foreigners bought shares worth US$636 208 and sold shares worth US$632 504. — The Source.

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