ZSE foreign buys surge

ZSE foreign buys surge

Source: ZSE foreign buys surge | Daily News

HARARE – Zimbabwe Stock Exchange (ZSE) foreign buys ballooned 1826,55 percent to $1,2 million from $64 186 on Thursday as non-Zimbabweans snapped up stocks on the local bourse following the Independence holiday.

On Thursday, the primary All Share Index added a further 1,48 percent to end pegged at 94,61 points while, the Industrial Index put on an almost similar 1,49 percent to settle at 316,85 points.

The Top Ten Index moved up 1,97 pointts or 2,10 percent to 95,73 points as heavies Delta, Econet, Old mutual and Innscor emerged on the risers’ side.

While sales dropped 31,75 percent to $270 000, Thursday’s activity on the bourse was confined to 19 stocks with 69 trades that were 2,82 percent lower than the prior session’s 71.

Volume of shares traded grew 38,92 percent to 3,91 million shares buoyed by Econet, Barclays, OKZim and ART with respective contributions of 28,21 percent, 27,19 percent, 18,84 percent and 14,40 percent of the aggregate.

Turnover for the day slumped 1,90 percent to $1,78 million as a trades were skewed towards low value stocks.

Driving the values were Econet and Old mutual that accounted for a combined 71,58 percent of the value outturn.

Gainers dominated fallers of the day by a count of four while four stocks traded unchanged.

Financial services group, Barclays, topped the risers of the day after extending 4,32 percent to $0,0459 trailed by beverages group, Delta, which rose 3,63 percent to close at $1,8777 having traded at a high of $1,9025 closing bid higher at $1,9050.

Econet went up by 3,51 percent to $0,9001 with an intra-day high of $1,0400.

The duo of Padenga and ART capped the top five risers of the session after advancing 1,83 percent and 1,62 percent to $0,4175 and $0,0440 in that order.

Leading the fallers of the day was First Mutual Properties which plunged 12,65 percent to $0,0435 followed by Axia as it dipped 1,95 percent to $0,2310.

African sun and Meikles lost 1,33 percent and 0,58 percent to end the session at $0,0370 and $0,2900 apiece.

The market — which faltered as it opened March with a total market capitalisation of $8,7 billion after shedding 1,19 percent in the week to March 2, 2018 — has been recording high foreign purchases.

In the week leading to the Easter holidays, the market’s foreign purchases swelled 5 298 percent to $1,60 million from $254 490 accounting for 86,71 percent of the day’s turnover.