The Sunday News
THE bullish run on which the Zimbabwe Stock Exchange has seen over the past weeks could be triggered by the amount Real Time Gross System money which is awash in the market.
Local investors who are failing to access their money are finding it lucrative to buy stocks in the bourse to guard against its depreciation.
The money cannot be used to pay foreign suppliers due to depletion in the Nostro Accounts making the ZSE the investor’s choice.
Meanwhile, on Friday, the Industrial Index closed the week on a higher note gaining 16.07 points (5,94 percent) to settle at 286.63 points.
Old Mutual led the movers with a $0,1446 increase to trade at $4,9071, Delta put on $0,1391 to $1,7392 while Padenga moved up by $0,0792 to close at $0,7918. Other movers were in Econet which added $0,0539 to end at $0,6600, Simbisa advanced $0,0485 to close at $0,6485 while TSL Limited was $0,0470 stronger at $0,3000.
There were no trades in the negative while ART and Dairibord and CFI Holdings traded unchanged at $0,0420, $0,6000, $0,1200 respectively.
Week on week Industrial index gained a significant 48.63 points (20,43 percent).
The Mining index was flat at 82.20 points. Bindura, Falgold, Hwange and RioZim remained unchanged at $0,0320, $0,0200, $0,0260 and $0,6789 in that order.
Week on week Mining index advanced by 8.15 points (11,01 percent).
