ZSE close day in the positive

Business Writer

The Zimbabwe Stock Exchange closed positive on Tuesday with gains being recorded across the board.

By the close of trading, a total of 23 counters had recorded gains, while 7 were in the negative.

The All Share Index closed 0,43 percent firm at 28 548.02 while the Medium Cap Index was the top riser albeit with a marginal 0,80 percent gain.

The positive close was supported by gains in Proplastics up 9,18 percent to 6 987.21 cents followed by Mash up 8,14 percent to 886,73 cents.

However, CFI was the top riser with an 14,83 percent gain to 65 300 cents. CFI recently reported that overall revenues for the group were 9,9 percent higher, in inflation adjusted terms for the quarter
compared to the prior year period.

Despite the challenging operating environment, the Group projects that aggregate demand will be
high on the back of an anticipated good agricultural season, which ordinarily boosts consumer
spending on basic food stuffs, farming, construction and mining activities.

Star Africa was also among the risers having recorded a 5,26 percent gain to 179.16 cents. This comes as the company resumed operations on Sunday 19 February after a successful resolution of the pricing of raw sugar and the trading terms.

In the previous week, the sugar producer had suspended production at its refinery citing high prices and unfavourable trading terms and this could have affected the company’s trading during the week.

However, it was not all rosy for stock market investors as some counters closed in the negative territory.

OK Zimbabwe was the biggest loser down 9,64 percent to 5 239.77 cents. Also among the losers were Willdale down 9,29 percent, Edgars down 8,45 percent and ZHL down 6,87 percent.

Turnover for the day amounted to $449 million with the bulk of the funds amounting to $316 million going into Delta. Delta closed the day up a marginal 0,30 percent at 52 392.54 cents.