Mid-tier stocks drive ZSE to a marginal gain

 Mid-tier stocks drive ZSE to a marginal gain
Published: 17 October 2019
The ZSE gained 0.07% as marginal losses in the big caps were offset by moderate gains in mid-tier stocks pushed by small trades. The session yielded eleven gainers and six fallers, with the Old Mutual counter again dominating turnover as investors look for a safe bet.
At the close of trade market capitalization stood at $29.7 billion (US$1.93 billion) turnover reached $8.6 million (US$0.56 million) with 2.4 million shares traded in 130 trades. Old Mutual drew the highest value traded at $3.8 million in 15 trades as it gained 0.08% to close at $33.0274 (US$2.15). Industrial holding Padenga drew the most trades with 21 valued at $402k as it gained 0.05% to close at $2.8914 (US$0.19).
On the blue chip counters; British American Tobacco closed unchanged at $50 (US$3.25) with no trades, Cassava drew six trades worth $70k, Delta closed 0.01% lower at $3.6966 (US$0.24) in 18 trades worth $2.6 million, Econet drew eleven trades worth $41k, Innscor closed 0.3% higher at $2.80 (US$0.18) in seven trades worth $1.1 million and National Foods closed unchanged at $9 (US$0.58) with no activity.
For the dual listed counters; PPC and SeedCo International both closed unchanged at $3.10 (US$0.20) and $2.765 (US$0.18) respectively with no trades.
The All Share Index climbed 0.07% to close at 228.34 and the Industrials Index added 0.06% to settle at 760.81. The Top 10 Index lost 0.19% to close at 209.55 while the Minings Index closed unchanged at 308.6.
Horticulture exporter Ariston closed in the black again, with a 17.9% rise to close at 12.4 cents in two trades worth $731.4 Construction stock Masimba added 14.3% to close at 16 cents, leaving its market cap at $37.31 million. Consumer stock Starafricacorporation edged 10.2% higher to close at 2.8 cents and leave its YTD at +115.38%. Retail stock Powerspeed gained 9% to close at 35 cents. Consumer stock Dairibord advanced 4.1% to close at 51 cents, leaving its YTD at +210.03%.
Real estate stock Dawn led the top fallers with a 5.5% fall to close at 8 cents in five trades worth $3.1k. Tech stock Cassava shed 0.8% to close at $1.4779 (US$0.10) and leave its YTD at +3.27%. Retail stock OKZim lost 0.45% to close at 64.58 cents and Econet retreated 0.35% to settle at $1.6891 (US$0.11). Consumer stock Simbisa Brands closed 0.08% lower at $1.3875 (US$0.09), leaving its YTD at +91.22%.
- finx
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