The ZSE closed firmer for a third consecutive session ahead of the State Of The Nation Address tomorrow. Investor focus will be on tomorrow’s SONA by President Emmerson Mnangagwa who has already signaled that the government will strive to create a conducive investment climate vital for sustained economic growth in Zimbabwe.
However major risks facing the economy are exchange rate risks, inflationary pressures, weak aggregate demand, Covid-19 and climate change. President Mnangagwa is expected to announce a new plan of resuscitating closed mines like Ziscosteel and improving the public transport system.
He is also expected to talk about the planning of the forthcoming farming season and new incentives especially to improve the appetite of tobacco farmers who were not spared from poor pricing of their crop.
At the close of trades, the ZSE All Share Index was up 3.14% to 9,179.57pts. Gains in NatFoods, Innscor and CBZ saw the Top 10 Index close 4.47% higher to 5,427.23pts.
NatFoods and RioZim led the top gainers with a 20% rise to close at ZWL$1200.0000 and ZWL$30.0000 respectively.
Innscor added 8.78% to ZWL$148.95.26. Financial service giant CBZ closed 8.38% higher at ZWL$97.5947.
Packaging firm Nampak led the top fallers with a 12.69% loss to settle at ZWL$10.2491. Willdale shed 4.64% to ZWL$4.2675. Mash Holdings lost 4.55% to ZWL$4.28.45. ZHL plunged 3.22% to ZWL$3.7615.
TSL however gained 8.77% to ZWL$69.5592. As a result, the Medium Cap Index advanced 0.71% to 20,311.48pts.
The Small Cap Index retreated 0.55% to 258,540.29pts. Clothing retailer Edgars, which is feeling the heat from second hand clothes, eased 2.82% to ZWL$4.4837 and completed the top five losers set.
Turnover stood at ZWL$195.83 million after 4.48 million shares traded – Harare