ZSE main index hits near four-year high in July

HARARE,– The Zimbabwe Stock Exchange  industrial index advanced 3,71 percent in July to 203,25  points, its highest for over three and half years, driven by the gains in most heavyweights.

The mining index eased 0,5 percent to close at 69,79 points.

In the year to date, both the mainstream and resource indices increased by 40,63 percent and 18,68 percent respectively.

Market capitalisation rose by 1,12 percent, from $5,7 billion in the previous month to $5,76 billion, the highest since July 2013 when it clocked $6 billion. Year-on-year, the market capitalisation has improved by 111,6 percent.

Total market turnover dropped 37,78 percent to $24,7 million from $39,7 million recorded in the previous month.

The largest company by market capitalisation, Delta slightly advanced 0,2 percent in the month to close at 127,25 cents while the telecoms giant, Econet gained 13,06 percent to settle at 40 cents.

Simbisa and Hippo advanced 25 percent and 15,6 percent to close the month at 25 cents and 87 cents respectively.

Padenga and Innscor also added 3,14 percent and 1,04 percent to trade at 27,9 cents and 72,75  cents respectively.

Old Mutual, which is trading at a premium compared to its price on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE), advanced 1,55 percent to close at 393 cents.

BAT also gained 0,28 percent in the month to settle at 1,805 cents.

National Foods remained unchanged at 380 cents.

CFI was the best performer in the month, after picking up 121,73 percent to close at 37,25 cents amid the ongoing bidding war between its major shareholders, fighting for the remaining minority shareholding.

African Sun also added 33 percent while Proplastics and Dawn gained 33,33 apiece in the month under analysis.

Axia, Powerspeed and Zimre also gained 28,87 percent, 19,05 percent and 13,38 percent in that order.

Dairibord and RTG  added 12,72 percent and 11,11 percent respectively while Nampak and Masimba gained 10 percent and 8,75 percent in that order.

FML, StarAfrica and OK Zimbabwe were also among the gainers after adding 8,49 percent, 8,33 percent and 7,37 percent in that order.

TSL aso picked up 7,11 percent while Truworths and Zimplow added 5 percent apiece in the month under review.

Seedco was the only heavyweight that recorded a loss after easing 0,71 percent to close at 139 cents.

Meikles and Barclays eased 25,8 percent and 18,33 percent respectively.

Ariston and Unifreight also lost 10 percent and 7,5 percent while Edgars and Fidelity shed 4,76 percent and 1,79 percent respectively.

Afdis and bankers CBZ also lost 1,64 percent and 0,5 percent respectively.