ZSE opens year bullish
THE Zimbabwe Stock Exchange (ZSE) has opened the year in the positive, recording six bullish sessions this year due to some blue chip companies such as OK Zimbabwe and Econet Wireless that drove the volume and value aggregates.
The market closed its first week of January with turnover growth of 35.22% to ZW$622.51 million, while volumes traded increased by 321.7% to record 14.01 million trades.
In the week, the market maintained positive performance as it gained steadily from an all-share uptick from 19 715.51 points recorded at the start of the year to 21 303.44 points at the end of the week.
The Top 10 index gained 3.59% to 13619.02 points, the Mid-Cap Index extended 2.15% to 39 041.60 points, while the ZSE Agriculture Index was 1.12% higher at 77.25 points.
Brick manufacturer Willdale led the bulls by 14.38% to close at ZW$2.4025 followed by Tanganda Tea Company, which marked up 11.21% to ZW$100.0930. Telecommunication group Econet added 8.55% to ZW$121.9162 while, Meikles bolstered its gains totalling 6.18% to ZW$127.4120. Hotelier African Sun secured its position on the top five gainers’ list of the day with 6.15% growth.
However, bears such as Mashonaland and Edgars lagged behind by 12.74% and 0.71% to see the former close at ZW$8.0000 and the latter end pegged at ZW$9.5000.
OKZim, First Mutual Properties and Ariston headed the volume aggregate with a joint contribution of 87.74%.
Heavyweight securities OKZim, Delta and Econet secured the value aggregate as they accounted for 40.55%, 24.33% and 22.36% respectively.
The ETF Index rose by 3.95% to 342.53 points as Datvest MCS soared 2.33% to ZW$1.5351.