Heavies anchor the market…
Heavy cap counters anchored the market in the week under review on the back of resurgent demand in selected counters. The All Share Index was 2.53% higher at 467.67pts while, the segregated Industrials rose 2.56% to close at 459.60pts. The Blue Chip Index garnered 3.23% to settle at 473.20pts, extending its YTD gains to 67.93% while, on the contrary the Mid Cap Index was 0.48% down at 473.48pts. Elsewhere, Mutapa Gold Resources has secured a US$125m syndicated financing facility from a consortium of local financial institutions to fund the expansion of Shamva Hill open-pit gold mine.
Zimre Holdings Limited headlined the risers of the week on a 14.13% surge to settle at $1.0500, where supply could be found with Proplastics following on a 12.00% advance that took the plastic manufacturers to $1.4000. Rainbow Tourism Group was 12.00% firmer at $1.4000 while, Nampak ticked up 10.28% to $0.8367. Banking group FBC was 9.11% higher at $10.9000 as Hippo Valley followed on a 8.91% rise that took the sugar processor to $11.9799. The duo of banking groups in CBZ and TN Cybertech added 8.67% and 8.22% to end pegged at $139.4135 and $0.3001 on the back of firming demand. Property concern Mashonaland Holdings advanced 5.56% to $1.9000 while, Turnall Holdings Limited added 4.17% to settle at $0.1250.
On the fallers’ side was African Distillers which led after succumbing 13.33% to $13.0000 while, Tanganda Tea trailed behind after letting go 11.09% to $3.1975, having traded an intra-week low of $3.1450. General Beltings was 10.93% down at $0.1100 while, Unifreight lost 10.00% to close at $1.8000. Sugar refiner Star Affrica reversed prior week’s gains on a 5.44% drop that took it to $0.0455. Masimba Holdings Limited was 4.21% lower at $2.8000 with agricultural concern Ariston retreating 3.97% to $0.0749. First Mutual Holdings Limited lost 1.46% to $3.2025 with conglomerate ART Corporation declining 0.12% to $0.2197 as it completed the top ten losers of the week.