HARARE – Zimbabwe Stock Exchange shares extended gains on Friday on increased buying momentum although turnover activity levels continue to oscillate around the 260-300 trades range.
The All Share Index closed with a weekly gain of 4.07% after it rose 4.85% to 2 586.90 in across-the-board buoyancy. This comes after the announcement that Zimbabwe is set to get over three million doses of vaccines at a cost of US$25 million from the 270 million jabs available to the African continent through an Afreximbank facility.
VP Constantino Chiwenga has said that the country is taking a measured approach on the vaccine with health experts interrogating all safety concerns. Vaccinations in the country will be voluntary.
The vaccines will cover 15 percent of Zimbabwe’s population.
A total 20 stocks closed in the green led by CBZ Holdings, which put on 16.10% to 8 600.02 (last trading price 8885c). The banking stock which is tipped to reach $100 billion market cap during the first half of the year from the current $59.1 billion, saw turnover of $9.73 million.
Padenga added 12.46% to 1 895.11c as the Top Ten Index jumped 6.38% to 1 627.56. Delta was the only heavyweight to trade in the negative after shedding a marginal 0.03c to 2 449.84c. The beverages maker led on value traded at $23.56 million and was also the most active with 65 trades.
There were five other losses elsewhere with Zimplow, which is undergoing consolidation, losing 16% to 420.02c. Mash Holdings pared 5.46% to 86.06c and Proplastics dropped 0.06% to 864c. The losses were however offset by gains in Art, Dairibord and RioZim leading to the Medium Cap Index closing with a 1.93% rise to 5 483.84.
Art, which is currently trading under caution, put on 14.38% to 400c and Dairibord rose 10.86% to 1 441.18c. First Mutual Holdings was 5.55% higher to 950c after NSSA announced that it will whittle down its shareholding in the group to 35% from the current 66%.
The Small Cap Index was 1.12% firmer to 11 089.74 after Turnall added 8.33% to 78c. NSSA this morning invited bids for the sale of its 32% stake in the company amid whispers that FBC executives are front runners.
Overall, turnover was at $66.11 million after 13.77 million shares changed hands in 280 trades. Foreign sales, mostly out of Delta $20.18 million and Padenga $4.63 million, were at $27.53 million. This is against purchases of $386 520.
Market capitalisation at $311.24 billion remains below historical averages.-Financial Express.
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