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ZSE continues to soar as turnover breaches the psychological $1m mark

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ZSE continues to soar as turnover breaches the psychological $1m mark

HARARE – Today marked the tenth consecutive week of rallying on the Zimbabwe Stock Exchange on the back of strong demand in blue chips are local investors look for a safe heaven.

Heavyweights Delta and Econet carried the day with demand from local investors on the rise as they seek refuge in the safe heaven stocks. Econet added 3c to close the week at 35c with 3,466,750 shares changing hands. Delta traded flat with 114,579 shares changing hands.

Axia notched 0.6c up to close at 8.7c with 85,010 shares trading. CBZ traded flat at 9.54c with 127,473 shares changing hands, the bankers closed at 9.50c. Hippo added 7.25c to close at 52.25c with only 1,448 shares changing hands. The counter has rallied 49.29% year to date.

Meikles added 3.5c to trade at 25c with 9,323 shares changing hands. The diversified group reported a strong set of yearend results showing a 104% growth in EBITDA to $24.8m. The performance at the EBITDA level was on account of solid results from Supermarkets, Hotels and Agriculture.

OKZim and Old Mutual both traded flat at 7.50c and 377c with 83,353 and 20,250 shares changing hands respectively. Demand for both counters remained elevated.

The Industrial Index continued to soar as demand continues to be elevated across all sectors. The mainstream index added 3.21 points to close at 167.98 on the back of strong gains in Econet and Meikles.

No change was recorded in the Minings albeit strong demand in the sector. Market turnover breached the psychological $1m mark to close the day at $1,431,500. Barclays Plc officially announces sale of stake to FMB

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