ZSE closes higher on gains in heavyweights

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HARARE,– The Zimbabwe Stock Exchange industrial index gained 0,65 percent to settle at 335,82 points driven by some heavyweight counters while the mining index added 2,59 percent to 140,32 points on Tuesday.

Market capitalisation stood at $9,65 billion while turnover amounted $2,85 million in the day.

Mobile operator, Econet advanced 1,95 percent to trade at 99,74 cents while Old Mutual gained 2,41 percent to settle at 450 cents.

Meikles and Axia picked up 19,52 percent and 17,18 percent to settle at 30 cents and 19,92 cents respectively.

Partially offsetting the gains recorded by the industrial index were retail operator, OK Zimbabwe which eased 0,2 percent to settle at 19,96 cents.

Additionally, Ariston Holdings and Mashonaland Holdings eased 2,86 percent each to settle at 1,7 cents and 3,4 cents respectively.

PPC and Barclays lost 2,44 percent and 0,31 percent to settle 122,19 cents and 6,48 cents respectively.

On the resources space, Bindura gained 9,15 percent to settle at 5,25 cents while other mining counters, Fagold, Hwange and RioZim remained unchanged at their previous trading prices.

Foreigners were net buyers in the day, disposing shares worth $1,03 million compared to sales which amounted to $387,081. – Source