By ETimes

The stock market strengthened by 0.35% as Thursday’s advance rested on the performance of mid-tier stocks and Turnall.

Today’s performance comes as the Reserve Bank of Zimbabwe (RBZ) deferred the first auction of 2022 due to Covid-19.

RBZ Governor John Mangudya, in a statement said, “The RBZ wishes to advise the public that the spike in Covid-19 infections has impacted negatively on the ability of Authorised Dealers to timeously submit essential information required to carry out the due diligence on auction bid documentation submitted by their clients.”

“As a result, Authorised Dealers were not able to submit all the required information for the first auction of 2022, originally set for 11 January 2022.”

In order to give Authorised Dealers sufficient time to carry out the necessary due diligence and submit the required documentation, he said “the first auction of 2022 will be held on 18 January 2022.”

The last auction for 2021 was on 14 December while the first auction for this year was scheduled for 11 January.

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Meanwhile, the All Share Index expanded 38.23 points to 10,940.17 points, market capitalization stood at ZWL$1.33 trillion at the end of trade. The Top 10 Index was up 0.25% to 6,866.83 points despite NatFoods loss of 1.38% to ZWL$1384.84.

Property firm Mash Holdings added 5.22% to ZWL$3.15. Axia rose 5.21% to ZWL$38.93. SeedCo limited and Unifreight gained 4.76% and 4.43% to ZWL$110.00 and ZWL$29.00 in that order.

The Medium Cap Index gained the most, rising 0.46% to 20,805.09 points.

Topping the losers set was African Sun which plunged 12.45% to ZWL$5.65. CFI climbed 3.76% to ZWL$90.05.

Turnall led gainers, appreciating 6.61% to close at ZWL$4.46. But the Small Cap Index retreated 0.17% to 410,130.30 points on General Beltings and NTS which shed 6.43% and 4.76% to settle at ZWL$2.13 and ZWL$6.00 respectively.

Turnover improved to ZWL$414.48 – Harare

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