Government pronouncements that separated nostro foreign currency from Retail Time Gross Settlements has resulted in high demand for equities on the Zimbabwe Stock Exchange as investors unwound RTGS balances for securities, a stock broker has revealed.
According to EFE Securities, the primary All Share Index was up by a record 60.14% while setting a year to date return of 100.29%.
“The primary All Share Index was up by a record 60.14% for the week taking it to 200.29 points and setting a year to date return of 100.29%.
“The Industrial Index was up by an almost similar margin of 60.03% at 673.42 points while, the Mining Index firmed 38.18% and settled at 227.37 points. The heavies index was the top performer for the week amongst the benchmarks surging 68.91 points and settling at 217.81 points,” the organisation said.
EFE securities noted that persistent selling pressure on the stock market saw three of the benchmark Indices open the week in the red.
“Persistent selling pressure on the bourse saw three of the benchmark Indices open the week in the red.
“The Top ten Index plunged 16.98% to end at 171.60 pts as heavies continued to wane. The mainstream All Share Index lost 14.32% to 171.60 pts while, the Industrial Index eased 14.51% to 575.74 pts.
“Twenty counters registered price movements with only two trading in the positive while, ten recorded losses to set a negative market breadth of eight for the day.
“Getbucks emerged the top gainer after ticking up 19.73% to $0.0540 trailed by property company Dawn that put on 5.71% to settle at $0.0259.
“Medtech was the top casualty of the day after plunging 50% to end at $0.0001 followed by Delta which dropped a hefty 19.99% to close at $3.3925. Padenga dipped 19.99% to end at $0.7975 while, conglomerate Innscor retreated 19.97% to $1.7175. Top capitalised stock Econet succumbed 19.92% to settle lower at $2.2800 closing well-offered at that level,” added the organisation.
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