Appetite for Zimbabwe stocks picks up


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The Zimbabwe Stock Exchange mainstream index today advanced 3.68 percent to 404.37 points with gains across the board as appetite for stocks remained high.

However, the mining index eased 0.37 percent to settle at 108.48 points.

Market capitalisation stood at $11.4 billion and market turnover amounted to $5.3 million as beverage maker, Delta advanced 7.9 percent to settle at 272.6 cents.

Telecoms giant, Econet also gained 1.21 percent to settle at 81.5 cents in the day.

Cigarette maker, British American Tobacco advanced 7.14 percent to settle at 3 000 cents while Innscor gained 6.58 percent to settle at 159.47 cents.

Masimba advanced 11.11 percent to settle at 7 cents.

NMB gained 11.76 percent to trade at 9.5 cents while Mashonaland Holdings gained 11.11 percent to settle at 7 cents.

Hotelier, African Sun picked up 9.30 percent to close at 4.7 cents while CBZ gained 12.20 percent to settle at 22.44 cents.

Partially offsetting the gains was Hippo Valley which eased 3.97 percent to settle at 137 cents.

Additionally, Fidelity Life and Tsl Limited eased 1.82 percent and 0.51 percent to trade at 13.5 cents and 35.25 cents respectively.

On the resources space, Bindura eased 1.18 percent to settle at 4.2 cents while Hwange, FalGold and RioZim remained unchanged at previous trading prices.

Foreigners were net sellers in the day, disposing of shares worth $3.5 million compared to buys worth $224.750.-The Source

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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