ZSE rallies again

ZSE rallies again
Published: 24 September 2019
Proplastics and Willdale led a stock market rally yesterday that saw the bourse close in the positive.

The All Share Index jumped 10,66 percent to 217,25 points while the ZSE Top 10 paced the fastest with a 13,49 percent gain to 206,98 points. At 724,67 points, the Industrials was 10,66 percent above prior session.

The Minings ticked 6,05 percent to 278,38 points.

This is the second time this year that the main indices have recorded double digit gains on a single trading session/day. Market heavies, Old Mutual, Delta, BAT, Innscor and OK were the top value drivers.

Powespeed was the only counter to trade in the negative with a 10,73 percent decline to 25,05 cents.

The stocks rally comes on the back of a weakening local currency were the Zimbabwean dollar is trading at $14.9146 for every US dollar. It also comes on the back of inflation figures for the month of August 2019 of 18,07 percent after shedding 2,97 percentage points on July's 21,04 percent.

Equity market investors normally look at stocks as a hedge against currency and price volatility.
- the herald
Tags: ZSE,


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