Three banking counters found themselves among the top performers for the day as investors jostled to get a bite of the cherry.
The pick of the day was tycoon Tawanda Nyambirai's TN Financial Holdings Limited (TN), the furniture retail and financial services group, that posted a surprisingly impressive interim set of results reflecting interim after tax profits of $5,8 million to see them rally 101 percent to a new settle at a 52 week high of 1,81c and with it saw the group find its place among the elite triple digit Year-To-Date gainers having yielded 126,25 percent by close of call.
Regional financial services group ABC Financial Holdings Limited also pushed to an all time high of 95c as the market remains bullish about the prospects of the group following a solid interim out-turn that saw their balance sheet firm to close to a $1 billion of course with the additional influence of the weakened greenback against the Botswana Pula.
ABCH is dually listed on the ZSE and the Botswana Stock Exchange (BSE).
International banking giant Barclays Bank Zimbabwe Limited that hogged the limelight recently in the ensuing indigenisation spat with the responsible minister put on +4,35 percent in interim results anticipation trades.
Other notable risers for the day were CAPS Holdings Limited (CAPS) and Tobacco Associates Holdings Limited (TA) that surged 60 percent and 18,2 percent to close at 0,4c and 13c, respectively.
Among those to trade in the negative were Tractive Power Limited, Zimplow Holdings Limited and Dawn Properties Limited that led after shedding -14,29 percent, -10 percent and -9 percent to trade at 12c, 9c and 0,91c, respectively.
Turnover continued on a steady improvement after Wednesday’s low closing at $1,5 million which was predominantly local driven with foreign inflows and outflows being estimated 29,8 percent and 32,9 percent, respectively, of the total turnover.
Emerging as the most liquid stock for the day was ABCH after an estimated $442 962 exchanged hands in the stock with Delta Corporation Limited (Delta) following having $391 581 worth of trades being attributed to the stock.
The resources index closed flat at 157.79 points as Bindura Nickel Corporation Limited (Bindura) and Rio Zimbabwe Limited (RioZim) traded stable at 5c and 80c, respectively, while there were no trades in Falcon Gold Limited (Falgold) and Hwange Colliery Company Limited (HCCL).
Post published in: Business Analysis