Zimbabwe Stock Exchange kicks off 2017 on a good start

HARARE,– The Zimbabwe Stock Exchange mainstream index rose 0,57 percent in the first week of the year to 145,35 points propelled by gains in some heavyweight counters but the mining index was flat at 58,51 points.

Delta and Econet advanced 1,71 percent and 0,3 percent to close at 90,01 cents and 30,09 cents respectively. Old Mutual also added 0,12 percent to trade at 349,64 cents during the week.

Leading the gainers pack were Zimpapers, FML and TSL after gaining 40 percent, 7,14 percent and 5,26 percent in that order. NTS and Hippo also added 4,55 percent and 2,86 percent to close at 1,15 cents and 36 cents respectively.

CBZ and CFI added 2,38 percent and 0,62 percent to trade at 10,75 cents and 9,8 cents respectively.

Losses were recorded by Dairibord and Mashonaland Holdings who dropped 16,67 percent and 9,55 percent respectively.

Market capitalisation closed the week at $4,03 billion. Total turnover stood at $1,597 million with average daily trades of $399,278 in the week.

On the resources index, RioZim was the only counter to trade, with shares worth $1,186 exchanging hands at 30 cents in the week. Bindura, Falgold and Hwange remained unchanged at 4 cents, 0,6 cents and 3 cents respectively.

Foreigners remained net sellers in the week, having bought shares worth $437,994 and sold shares worth $1,096 million.

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