By ETimes

The local bourse closed Friday session in the black pushed on by advancing blue chips.

Today represents the third consecutive day of gains on the market, with observers anticipating another prolonged bull run as investors flock to preserve value against the depreciating exchange rate.

Market breadth, an indicator of investor sentiment towards trade, was positive as 22 advancers were reported relative to 11 laggards.

Significant gains in Simbisa and Meikles saw the All Share Index gain 2.80% to close at 12,062.14 points while the Top 10 Index added 3.41% to close at 7,780.17 points.

Quick service restaurant provider Simbisa Brands led the way with a 19.97% gain to close at ZWL$128.38, pushing the market cap up to ZWL$72.17 billion and YTD gain to +42.65%. The counter is third among the top 5 gainers YTD.

Conglomerate Meikles was 17.48% higher to ZWL$149.15.

Hotelier African Sun rose to ZWL$6.91, notching up 15.28% in the process. Mash Holdings appreciated by 10.04% to ZWL$2.85. Nampak completed the top 5, climbing by 8.33% to ZWL$13.00. As a result, the Medium Cap Index advanced 1.26% to 21,398.59 points.

There were however losses in NMB and Edgars which lost 8.77% and 6.33% to end at ZWL$13.68 and ZWL$4.55 respectively.

Willdale, which announced the delay in publication of its financial results for the year ended 30 September 2021, fell 4.24% to end at ZWL$3.31. The delay is to allow external auditors to conclude their audit and review of the financial statements, according to the company. “We expect the financial results to be published by 31 January 2022. Necessary approvals have been obtained from the Zimbabwe Stock Exchange.”

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Cement maker Lafarge said it is still working diligently on the restorative works necessary so that normal operations may resume as soon as possible. This follows the damage caused by the collapse of the roof on one of the Company’s mills on 11 October 2021.

“Therefore, shareholders are advised that the disruption of cement production as well as the cost of the ongoing repairs will have a negative effect on the financial results of the Company for Quarter 1, 2022,” it said. Today, the mid-tier stock did not trade.

NTS was the worst performer losing 16% to end at ZWL$5.04. Medtech followed, slumping 11.27% to ZWL$20.00. GB Holdings closed at ZWL$1.94, going down by 6.63%. The Small Cap Index retreated 3.04% to 386,264.26 points.

Turnover was led by the heavyweights as Delta had ZWL$68.95 million turnover. Innscor had a turnover of ZWL$46.68 million and OK Zimbabwe had ZWL$26.32 million. Market Capitalisation was up 2.54% to ZWL$1.46 trillion – HARARE

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