ZSE Hits Record Highs
The Zimbabwe Stock Exchange industrial index advanced 15,64% in August to 235,03 points, the highest since dollarisation, driven by the gains in all heavyweights.
The mining index was up 5,8% to close at 73,47 points, its highest since September 2014.
In the year to date, both the mainstream and resource indices increased by 62,62% and 25,57% respectively.
The market capitalisation also reached a new high since dollarisation after it increased by 15,63% to $6,66 billion from $5,76 billion in the previous month. Year-on-year, the market capitalisation has improved by 144%.
However, total market turnover dropped 44,95% to $13,6 million from $24,7 million recorded in the previous month.
A total of 115,9 million shares exchanged hands in the month under analysis, compared to 53,4 million shares in the previous month.
In the eight months to August, total market turnover recorded on the local bourse amounted to $153,4 million, 41% more than $108,2 million recorded in the same period last year.
The month of March recorded the highest market turnover in the year, of $26,9 million, while the month of January recorded the least turnover of $8,6 million.
The largest company by market capitalisation on the ZSE, Delta, advanced 10,86% in the month to close at 141,07 cents while telecoms giant, Econet gained 22,13% to settle at 48,85 cents.
Simbisa and Padenga advanced 88% and 60,82% to close the month at 47 cents and 44,87 cents respectively. Seedco and Hippo also added 25,29% and 10,34% to trade at 174,15 cents and 96 cents respectively. Innscor gained 7,9% to close at 78,5 cents.
Old Mutual, which is trading at a premium compared to its price on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE), advanced 4,64% to close at 411,25 cents.
BAT and Natfoods slightly gained 0,55% and 0,39% to settle at 1,815 cents and 381,5 cents respectively.
General Beltings was the best performer in August, after its share price increased five times to 0,55 cents.
Medtech also added 150% to close at 0,05 cents in the month under analysis while CFI and Dairibord gained 84,56% and 57,14% to settle at 68,75 cents and 11 cents respectively.
Zimre, Nampak and OK Zimbabwe also gained 46,99% 45,45% and 37,75% to close at 6,6 cents, 8 cents and 14,05 cents in that order.
NMB and Axia added 33,33% and 28% to trade at 5,4 cents and 16 cents respectively while Colcom and Powerspeed gained 21,85% and 20% to close at 50,25 cents and 6 cents in that order.
ZB Financial Holdings, Pearl and Unifreight were also among the gainers after adding 18,18%, 17,65% and 17,12% to settle at 19,5 cents, 4 cents and 1,3 cents respectively.
Dawn also picked up 15,38% to trade at 2,1 cents while Meikles and Masimba added 13,21% and 13,03% to close at 21 cents and 5,9 cents respectively in the month under review.
Edgars, Afdis and Mashonaland also gained 12,5%, 11,67% and 7,44% to close at 4,5 cents, 67 cents and 2,31 cents in that order.
Only three counters, ART, Willdale and Fidelity recorded losses on the local bourse, in the month under analysis, after their share prices declined by 23,64%, 2,44% and 1,82% to close at 4,2 cents, 0,4 cents and 13,5 cents respectively.
The 5,6% increase in the resource index was on the back of Riozim and Falcon after their share prices advanced 8,33% and 20% to close at 65 cents and 1,2 cent respectively.
Bindura and Hwange remained unchanged at 2,45 cents and 2,6 cents respectively.
Foreigners were net sellers in the month, with purchases of $1,17 million against sales of $2,87 million, resulting in a net outflow of $1,7 million. — The Source