Business - Economic Updates - Featured - Finance - November 5, 2020

Stock market closes in positive direction on heavyweight gains

PERFORMANCE of the wider market improved with the All Share Index recording a 0.38% gain to 1,502.72points and the Top 10 Index was 0.75% higher to 973.67pts after gains in selected heavyweights.

Innscor added 7.32% to settle at 2096.41c while retail giant OK Zimbabwe put on 6.50% to 479.22c with a market cap of ZWL$10.9 billion.

The Small Cap Index gained 0.23% to 6,103.40pts on Edgars which was 4.44% higher to 94c. However, Masimba was 1.92% down to 255c.

Gains in Afdis and StarAfrica could not lift the Medium Cap Index which retreated 0.24% to settle at 3,031.51pts. Afdis led the top gainers with an 11.77% rise to close at 1900.01c to leave its YTD at +495.61%. StarAfrica advanced 5.26% to 20c.

NMBZ, Axia and Ariston eased 5.08%, 2.52% and 1.54% to close at 270c, 384.85c and 128c respectively.

The Mining Index lost 7.30% to 3,400.14pts on BNC which fell by 8.91% to 346.13c. The biggest faller in the day.

Overall trade count stood at 229. Foreigners continued to exit the market at ZWL$69.6 million. The foreign disposals were in Delta, Afdis, Econet and ZB. Foreign purchases stood at ZWL$4.2 million.

Turnover increased to ZWL$90.02 million from ZWL$31.4 million.

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