ZSE rises further albeit profit taking …
The ZSE eked out a 1.74% gain in Thursday’s session, despite profit taking witnessed in selected counters across the board. The mainstream All Share Index added 1.74% to settle at 568,812.10pts while, the Top Ten Index ticked up 2.36% to close at 254,716.79pts spurred by RTG and CBZ. The ZSE Agriculture Index scratched a 0.44% gain that took it to 1,579.46 while, the Mid Cap Index extended 1.82% to end the day at 2,158,645.68pts. Leading the risers of the day was BridgeFort Capital Class B shares which ballooned 100% to end at $40.0000. The miner RioZim joined the rising elites and Tobacco processor TSL after ticking up 15% to reach all-time highs of $1,190.2500 and $2,320.4000 respectively on firming demand. Banking group NMB continued to shine as it rose a further 14.71% to see it trading at $2,600.0000, where supply could be found. Rainbow Tourism Group ticked up 13.98% to $299.7628 as demand continued in the counter.
A negative market breadth of two was recorded despite an upward movement of the ZSE, as sixteen counters faltered against fourteen gainers while, two remained unchanged. Tanganda was the major casualty of the day as it succumbed 15% to end trading at $2,431.0000 where demand was established. Trailing was conglomerate Meikles which suffered a 9.38% loss that took it to $4,703.1033 on weakening demand. Turnall Holdings was 4.49% lower at $85.0000 while, apparel retailers Edgars which is trading under cautionary lost 1.69% to close at $250.9906. Fintech group Ecocash was also seen in the faller’s zone after rolling back to $749.5321 on 1.18% loss as profit taking took its toll in the name. Activity aggregates closed mixed in the session as reflected in volumes which went down 65.82%, yielding a value outturn of $6.18bn which was 9.88% higher on yesterday. Delta emerged as the major value driver accounting for 42.41% of the total while, SeedCo propelled the volume aggregates after claiming 29.74% of the outturn. A rare foreign inflow position was recorded as inflows of $1.25bn were registered against outflows of $260m to register a net funds inflow position.