Renewed foreign demand in telecoms giant Econet Wireless Holdings Zimbabwe Limited saw the group emerge the most liquid stock for the day after 347 840 units in the group sailed through the bourse in trades worth $1,4 million as the total value traded improved +74 percent to $2 million.
Foreign participation closed in net inflow position of just $10 000 as inflows stood at $1 465 143 against outflows of $1 455 007.
Driving the industrial rise were food processors with meat processing and packaging group Colcom Holdings Limited being the pick of the cherry after a +8,11 percent rise to 40c while Dairibord Holdings Zimbabwe Limited continued on a steady renaissance putting on +4,76 percent to 22c.
The market welcomed the OK Zimbabwe Limited financials with a +217 percent rise in the price of the retailer to 9,40c.
OK released their interims yesterday reflecting a 61 percent rise in the revenues to $185,6 million and posted a bottom line of $3,8 million (Interim Earnings Per Share 0,38c) from which they rewarded their shareholders with a dividend of 0,15c per share.
The other stocks to record gains were Econet and Meikles Africa Limited.
Telecommunications giant Econet that had been weighed by a heavy scrip overhang in recent days posted a +1,3 percent rise to 390c as the demand starts to resurface in the telecoms giant.
Conglomerate Meikles and long time expected target of the indigenisation and empowerment regulations implementation managed to fend off the speculation with the launch of their Employee Share Option Scheme (ESOP) in partial fulfillment of the regulations while it is now expected that the Pick’n’Pay deal expected to boost their retail operations will sail through.
In anticipation the counter’s steady rise continued today taking it to 24c which is a +1,65 percent rise for the day while it is up 25 percent since Monday.
Counters to trade in the negative were led by construction company Murray & Roberts (Zimbabwe) Limited (M&R) that sank to a 52 week low of 8,20c after shedding 17,79 percent by close of call today.
Reinsurers ZimRe Holdings Limited lost -14,29 percent to 1,20c while property group Dawn Properties Limited took a knock shedding -6,25 percent to a 52 week low of 0.,5c.
Dually listed conglomerate Old Mutual Limited took a cue from falling global markets shedding -5,08 percent to 110.,11c while regional financial services group AB Financial Holdings Limited completed the shakers list dropping -4,29 percent to 67c.
Rio Zimbabwe Limited recovered from the recent slump to help the ZSE's Mining Index rebound +1.,47 percent to 120.74 points.
RioZim drawing close to the consummation of the mining house’s recapitalisation plan was the best performing stock for the day after putting on +11,11 percent to 50c as the rest of the mining stocks traded unchanged.
Post published in: Business