By ETimes

The Zimbabwe Stock Exchange (ZSE) closed 1.94% higher on Monday, backed by moderate gains in the select big caps and in mid-caps. This comes as the parallel market rates seem to have taken a rest at the 170-180 mark for now.

The session yielded 14 gainers and 19 fallers.

Reviewing latest financials from consumer facing businesses like NatFoods, Innscor, and Simbisa; we see a marked improvement in trading volumes for the year ended June 2021 albeit off a low base but signaling that consumer spend may be more robust than expected as lockdown restrictions ease going into 4Q21, according to IH Securities.

At Monday’s close, the All Share Index was 1.94% higher to 10,802.39 points. Axia led the risers gaining 8.25% to ZWL$41.1337 and Proplastics was 7.46% higher to ZWL$36.0000. NMB added 5.44% to ZWL$13.7077.

As a result, the Medium Cap Index advanced 1.36% to 22,173.09points.

Nampak was the worst performer losing 8.28% to ZWL$11.0063. Brick maker Willdale followed, slumping 7.42% to ZWL$3.6013. First Capital Bank eased 6.44% to ZWL$3.5553.

Other losses were recorded in ZHL and African Sun which eased 6.28% and 5.77% to ZWL$3.7489 and ZWL$9.4231 respectively.

Among the heavyweights, NatFoods put on 7.49% to ZWL$1608.1250. Econet was 4.41% higher to ZWL$75.7992. The Top 10 Index was up 2.26% to 6,611.03points.

The Small Cap Index was up a marginal 0.27% to 322,365.90points.

Turnover stood at ZWL$177.43 million after 5.25 million shares traded.

Foreign sales were at ZWL$32.9 million against buys of ZWL$7.32 million. Buying interest in Innscor saw the conglomerate contribute the most to turnover at ZWL$53.62 million.

Meanwhile, ZSE noted that the suspension of trading in the shares of Cassava Smartech Zimbabwe on the local bourse will be lifted with effect from 19 October 2021. At the beginning of this month, trading in shares of Cassava was suspended due to FY21 results release delay.

Cassava managed to publish its audited financial statements on 18 October 2021. The Securities and Exchange Commission of Zimbabwe approved ZSE’s application for the lifting of suspension in the trading of Cassava’s shares – Harare

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