HARARE – Masimba Holdings has gained just over 191% in under ten trading days as a local investor piled up shares in the construction company. The investor (name withheld), who has existing interests in the construction sector, now owns close to 14% in the company amid reports the recent run of the share price might have slowed down his onslaught.
Masimba closed Friday’s trading with an 18.59% gain to 874.06c in eight trades worth $356 618 as the Small Cap index outperformed the wider market after rising 7.68% to 9 437.51. Lafarge also boosted gains rising 14.29% to 800c, as did Fidelity, which is now set for imminent delisting after it added 8.47% to 156.19c. The Index also gained the most week on week on 25.72%.
The All Share Index put on 1.01% and 6.63% on the week to 1 686.51. BAT led the day’s risers after jumping 20% to 28 320c. Hippo, which replaces RTG as one of the top ten most capitalised counters on the bourse at $5.25 billion, rose 19.98% to 2720c in a typical low volume trade of 500 shares.
However, the heavyweight index was near flat after it added 0.07% weighed on by marginal losses in Padenga, Cassava and CBZ. Padenga was down 3.07% to 1600.14c in significant turnover of $11.49 million. Cassava was the most traded stock on a count of 53 as it pared 0.02% to 378.33c. CBZ Holdings shed 1.79% to 3 310c as speculation over an impending consolidation with ZB Financial Holdings continues to dominate market discussions.
Total turnover was at $59.34 million in 259 trades. Cassava led the turnover contributions at $21.57 million. Foreign Foreigners sold in Cassava and Econet at $21 million while they bought $6.63 million worth of shares in various counters. The market breadth was positive at five after 17 stocks advanced and 12 registered negative trades.
Elsewhere, ZB was the worst performer losing 12.48% to 2 100c and African Sun shed 11.67% to 159c. Mining stock RioZim was down 2.93% to 750c as it continued to slip on its market capitalisation at $915.22 million amid unconfirmed reports that the company is contemplating delisting.
The Medium Cap Index was 2.17% higher to 3 508.81 with a year to date return of 1 133.11%.
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