Market report: Industrials Index on a rebound

24 Sep, 2017 - 02:09 0 Views

The Sunday News

THE bull run on the Zimbabwe Stock Exchange continued at the beginning of last week as mainstream Industrial index headed to dizzy heights scaling past the 300 level on sustained demand. By the close the main Industrials Index was up 14 points or five percent to 301 on Monday’s trade taking its year to date gain to 108,28 percent. On Friday the Industrial Index further rebounded 1.66 points or 0,46 percent to end the week at 366.08 points.

Market watchers contend that currency uncertainties and growing bank balances have driven demand, while money market investments continued to lose appeal as bank pay little or no interest at all.

INDUSTRIALS

The Industrial Index rebounded 1.66 points (0,46 percent) to end the week at 366.08 points. Heavyweights gained ground as British American Tobacco added $3,1317 to close at $26,0667, Afdis advanced by $0,1500 to $1,7000 while Hippo was up $0,0500 to trade at $1,3500. Old Mutual was $0,0206 higher at $7,8300 while Dairibord closed at $0,1400 following a $0,0150 increase.

Trading in the negative; OK Zimbabwe led the shakers with a $0,0400 loss to end at $0,3000 and Axia shed $0,0149 to $0,2800. NMB Holdings and Simbisa both lost $0,0050 to close at $0,0850 and $0,6950 respectively while Delta inched down $0,0005 to trade at $2,2001.

Week on week Industrial index shed 33.95 points (8,49 percent).

MININGS

The Mining index gained 0.93 points (0,94 percent) to settle at 99.67 points. RioZim improved by $0,0067 to $0,8067 and Bindura added $0,0005 to close at $0,0400. Falgold and Hwange remained unchanged at $0,0200 and $0,0374 respectively.

Week on week Mining index gained 8.21 points (8,98 percent).

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