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Zimbabwe: Positive Sentiment Returns to ZSE

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POSITIVE sentiment has returned on the Zimbabwe Stock Exchange (ZSE), helping to drive activity on the market, as the bourse closed in the black led by the biggest counter, CBZ.

This saw three of the benchmark indices close pointing northwards during the week to Wednesday.

The primary indicator, the ZSE All Share Index gained by 2 percent to close at 1 496 points on gains recorded across the board.

The market heavies, the ZSE Top 10 paced the fastest with a 4,69 percent gain to close at 966 points while the ZSE Top 15 rose by 4,14 percent to 1 151 points.

At 3 038 points, the Medium Cap was 1,37 percent below prior week level.

The Small Cap weakened by 0,74 percent to 6 089 points from 6 134 points. Total market value rose by 1,55 percent to close at $180 billion from $178 billion as bulls dominated trades.

Headlining risers for the week was the biggest counter by market value — CBZ Holdings, which put on 24 percent to $44,45 followed by General Beltings which put on 13 percent to 17 cents. Clothing retailer — Truworths gained by 10 percent to 16,97 cents from 15,41 cents recorded last week.

Resources group, Bindura, put on 5 percent to close at $3,80 while Asia wrapped up the week’s top five risers with a 4 percent gain to $3,94.

Other gains were recorded in banking group FCB which rose by 4 percent to 52,04 cents while seed producer, Seed Co put on 3 percent to $17.

The duo of Innscor and Hippo rose by 2 percent each to $19,53 and $14,02 respectively.

Masimba and Meikles increased by 1 percent each to $2,60 and $15,36 in that order while Simbisa marginally rose by 0,72 percent to $6,22.

Further gains were offset by declines in property firm Mashonaland Holdings which eased 15 percent to 50,5 cents. Resources group RioZim fell 12 percent to $8,50. Food and dairy products processor, Dairibord went down 11 percent to $8 compared to $9 recorded last week.

At $16,50, financial services group, ZB was 7 percent weaker than prior week’s $17,89.

Crocodile breeder, Padenga declined 6 percent to $13,07 as the group announced further delays to release its financial results in order to consolidate figures from its recent acquisition, Dallaglio.

The results will now be released by the end of this month.

The trio of Edgars, FMP and Nampak lost 6 percent each to 90 cents, $2,19 and 74,75 cents in that order.