ZSE index gained 9% in July

Published: 05 August 2013

The Zimbabwe Stock Exchange industrial index registered a 9,75 percent gain last month, as heavyweight stocks Delta, Econet and Innscor strengthened.

Delta registered 7,14 percent, Econet surged 3,03 percent while Innscor jumped 15,36 percent in defiance of the elections held last week. Delta closed the month of July at US150c, Econet US68c and Innscor at US105c.

Mid-caps traded higher in the month, with the exception of Hippo and National Foods which were down 8,70 percent and 2,04 percent to US105c and US240c respectively.

OK Zimbabwe was up 36,12 percent at US30c, BAT was up 42,50 percent US1425c, Barclays was up 44,44 percent at US6,50c, Old Mutual was up 11,69 percent to US239c and Seed Co was up 1,23 percent to US82c.

Delta dominated trades, with US$11,58 million worth of shares traded in July.

Econet was the second largest contributor with US$6,14 million worth of shares.

Astra contributed US$5,56 million worth of shares, with a special bargain taking place in the month whereby Fintrust, disposed of its 63,25 percent stake in Astra, comprising 88 million shares worth US$5,5 million.

The mining index recorded weakness, declining 8,87 percent, with a slight gain in Hwange of 0,57 to US, being offset by losses in Bindura, down 9,09 percent to US2,50c, Riozim, down 11,11 percent to US40c and Falgold down 25 percent to US9c.

The ZSE slightly fell last Friday as post-election trades remained quiet. The tranquil environment helped ZSE stocks to keep gaining even days before Zimbabweans voted in the harmonised elections.

After trades, the industrial index lost 0,84 percent to 231,21 points while the mining index declined 0,66 percent to 66,33 points on losses in Bindura Nickel Corporation.

Daily market turnover over was down to US$900 935 on a volume of 7,154 million shares against Thursday's US$1,437 million on a volume of 2,414 million shares.

Weekly market turnover also dropped to US$5 million on a volume of 19,76 million shares from previous week's US$5,3 million on a volume of about 15,69 million shares. Art Corporation led the top risers on the day adding 50 percent from US0,20c to US0,6c.

Barclays was the top loser after dropping 15,3 percent to US5,5c. Dawn Properties closed 10 percent weaker at US0,9c. Aico Africa also declined 6,8 percent to US0,51c. BAT advanced 1,37 percent or US20c to a record level of US$14,75 taking its year to date to 309,7 percent.

Old Mutual and TA Holdings gained 0,83 percent and 1,05 percent each to US242c and 7,7c respectively. OK Zimbabwe closing unchanged at US30c while there were no trades in Delta Corporation and Innscor Africa. BNC fell dropped 2 percent to US2,45c while RioZim was unchanged at US40c.
- herald

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