ZSE inches up 2.34% despite low activity…
The ZSE market inched up 2.34% to settle at 251.39pts mainly anchored by gains in selected heavies. The Blue-Chip Index was 3.25% firmer at 257.46pts as Econet and Delta continued to lead the charge in the Index while, the Agriculture Index added 0.01% to 191.42pts. On the contrary, the Mid Cap Index was 1.32% weaker at 249.27pts as its constituents dominated the top five laggards’ list of the day. The activity aggregates fell by 89.55% to see 282,200 shares worth $1.23m exchange hands, this was a 92.45% decline in turnover. The top volume drivers of the day were Econet, Star Africa, TN Cybertech and Meikles with respective contributions of 21.16%, 18.92%, 16.05% and 10.05%. The trio of Econet, Delta and BAT drove the turnover aggregate of the day as they claimed a combined 79.13%.
Tyre producer NTS led the risers of the day as it ballooned 100% to close at upper circuit breaker limit of $0.5010. Trailing behind was Econet that continues to ride on a wave of the recently published cautionary, as it edged up 12.89% to close at a VWAP $7.8158. Brick manufacturer Willdale was 12.00% higher at $0.0505 while, insurer FML added 12.00% to end pegged at $1.7382. Exchange operator ZSE Holdings recovered from prior losses as it was up 8.43% to $0.9000. Trading in the negative was sugar refiner Star Africa that plunged 17.27% to $0.0254 while, digital media group Zimpapers retreated 12.50% to $0.0700. Banking group FBC continued to lose ground as it parred of 4.46% to $9.0000 while, Zimre was 0.63% down at $0.5490. Agriculture concern Ariston lost 0.26% to $0.0331 as it capped the worst performers of the day. The Tigere REIT was 14.97% lower at $1.1255 as 2.31m units exchanged hands in the fund. The Cass Saddle ETF was stable at $0.1050 as 633 units exchanged hands.