Zimbabwe Stock Exchange market cap tops $12 billion as stocks continue rally

By Staff Writer | The Source Zimbabwe October 4, 2017

The Zimbabwe Stock Exchange industrial index on Tuesday advanced 1,57 percent to 427,53 points while the mining index gained 6,98 percent to 139,56 points, buoyed by gains in Econet and mid-tier stocks.

Market capitalisation reached $12,1 billion while market turnover amounted to $2,2 million.

Mobile operator, Econet advanced 8,82 percent to settle at 92,58 cents.

National Foods and PPC gained 19,98 percent and 8,01 percent to settle at 604 cents and 155 cents respectively.

ZPI advanced 3,85 percent to trade at 2,7 cents.

Meikles gained 2,2 percent to settle at 39 cents while Seedco advanced 0,35 percent to settle at 285 cents.

African Sun also advanced 0,2 percent to trade at 4,51 cents.

On the losers pack, beverage maker Delta eased 0,13 percent to settle at 275,42 cents.

NMB eased 5,26 percent to settle at 9 cents while CBZ eased 3,61 percent to settle at 24 cents.

Axia and Innscor eased 2,45 percent and 0,02 percent to settle at 32,24 cents and 179,97 cents respectively.

On the resources index, Bindura advanced 19,17 percent to settle at 7,15 cents while Hwange, FalGold and RioZim remained unchanged at previous trading prices.

Foreigners were net sellers in the day disposing shares worth $634,498 compared to buys worth $449,512.

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