HARARE – The stock market was near flat for the second day running as trading remained mixed. Turnover was about 25% lower to $61.25 million although activity levels were much higher at 490.
Delta led the turnover contributions at $16.86 million while General Beltings brought in the least value at $120. Foreigners continued to sell their holdings in heavyweight counters at $26.08 million against purchases of $5.87 million.
Meanwhile, the Ministry of Finance said public service funds under management have grown to $3.7 billion since last year. The funds are under the management of eight asset managers.
(See full report to follow).
Penny stocks were the main performance drivers albeit on low volumes as the All-Share Index put on 0.24% to 4 165.74. The session yielded 21 gainers against 15 fallers. Total market cap was at US$6 billion.
HARARE – Midcaps outperformed the stock market on Tuesday although trading remained lacklustre with turnover failing to cross the $100 million mark.
Turnover was at $94.16 million in 278 trades. CBZ Holdings and Delta contributed the most to turnover $33.37 million and $32.62 million, respectively. Foreign sales were at $30.46 million with $22.73 million of that coming out of Delta. Foreign buyers were at $13.45 million with Hippo making up the most at $11.18 million.
First Mutual Properties led the session risers as it added 44c to 264c, an increase of 20.00%. Zimre Holdings, which underwent a consolidation as part of a new strategic focus, made a 19.95% rebound to 249.50c as it improved its market capitalisation to $3.82 billion.
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