HARARE – CBZ Holdings market capitalisation rose nearly 13% on Tuesday as the stock market sustained its upward trajectory.
CBZ put on 12.66% to 5 515.98c taking its market cap to $37.9 billion. Turnover in the stock was the highest of the day at $33.05 million. CBZ has now put on 7 812.75% in the year to date. First Mutual was however the day’s top riser gaining 20% to 660c amid whispers of a potential tie up to a financial services stock.
The gains saw the All-Share Index add 1.48% to 2 046.70 in a session which yielded improved turnover of $60.9 million from $34 million yesterday. Activity levels were however low with the trade count at 280. Foreign participation was negligible with buys of $220 383 against sales of $377 705. Other significant contributors to turnover came from Delta at $8.32 million and Econet at $5.95 million. Econet brought in the most volume at 846 500 shares while Delta was the most active with 22 trades.
Trading was mixed with 17 stocks trading in the negative while 16 advanced. The market closed with a total valuation of $247 billion with the Top Ten stocks making up 73.58% of that figure.
The Top Ten Index put on 2.25% to 1 327.24 but is still lagging wider market performance with a year to date of 551.69. Other gain besides CBZ were seen in OK Zimbabwe, which out on 4.65% to 687.91c.
There were heavyweight losses in BAT, which was the overall worst performer after losing 8.07% to 41 000c. Cassava was down 5.89% to 423.36c as it awaits the outcome of the FIU investigations into money creation. Padenga dropped 3.89% to 2 035.22c while there were marginal losses in Delta, Econet and Innscor.
Penny stocks had the best performing index after a 4.72% gain to a close above the 10 000-level at 10 250.12. The Small Cap Index is also the best performing in the year to date with a 1508.49% return. NTS was 19.87% higher at 27.45c and RioZim was 3.68% up to 1 120c.
Powerspeed, which is set to leave the ZSE board on Friday, was 0.51% lower at 194c in a low volume trade of 500 shares.
The Medium Cap Index pared 0.04% after losses in Axia offset gains in Afdis and Masimba. – Financial Express
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