HARARE – The stock market maintained its unpredictable trend on Thursday after it swung back to positive territory. Performance and activity levels were lifted by CBZ Holdings.
CBZ Holdings, which was last year’s best performer with a gain of over 12 000%, saw turnover of $97.04 million in 59 trades as it rose 7.36% to 7407.72c. However, Meikles was the day’s best performer with a 18.08% gain to 2 400c leading to a 0.66% gain on the All Share Index to 2 467.15.
Total turnover was at $243.4 million, the highest daily outturn in the year to date, after 17.41 million shares traded. Delta at $33.88 million, ZB $28.36 million and Econet $24.6 million were the other significant contributors to turnover. Foreigners bought $14.76 million and sold $32.03 million. First Mutual led the foreign purchases at $13.5 million.
Trading remained mixed with the session yielding 15 gainers against 14 decliners.
The Top Ten Index led with a 1.62% gain to 1 530.01 with other gains besides CBZ being recorded in Innscor which added 3.10% to 3 459.71c and Padenga up 2.04% to 1 685.16c.
There were losses in Econet, which dropped 5.78% to 800.22 and Delta down 1.88% to 2 449.87 ahead of the release of its December-quarter trading update. BAT pared 0.18% in its first trade to 54901.60c.
The Medium Cap Index was the worst performer losing 1.17% to 5 379.89. Art, which is trading under a cautionary statement, lost 19.96% to 349.77c and African Sun was down 19.22% to 107.56c. ZHL, which is sitting on a market cap of $4.29 billion, was 7.98% lower to 280c.
The Small Cap Index closed with a marginal loss of 0.35% to 10 966.49.
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The Old Mutual Top Ten ETF was unchanged at 100c after 1.14 million units.
– Financial Express.