Falgold suspension lifted as ZSE gains 8%

Published: 24 September 2019
The ZSE's bullish run continued with an 8% rise, with three counters triggering the 20% circuit breaker mark. The session yielded 25 risers and zero fallers as small trades pushed strong gains in selection of mid-tier stocks as well as Econet and Cassava.
Old Mutual expectedly dominated market turnover as investors look for safety against the rising exchange rate volatility. Meanwhile, the ZSE cleared the Falgold share to resume trading after the gold miner published its requisite financial results.
At the close of trades, market capitalization stood at $30.89 billion, putting it back above US$2 billion again at US$2.08 billion. Turnover reached $12.3 million (US$0.83 million) with 5.6 million shares traded in 260 trades. Econet drew the most trades at 58 valued at $1.8 million as it gained 18.8% to close at $2.0468. Dual listed Old Mutual drew the highest value traded at $4.6 million in 16 trades as it gained 0.8% to close at $35.0351.
On the other big caps; Cassava drew 29 trades worth $999k as it added 18.8% to close at $2.0279 (US$0.14), Delta drew 38 trades valued at $1.9 million as it gained 2.6% to close at $4.3991(US$0.30) and British American Tobacco added 1.1% to close at $35.3824 (US$2.39) in five trades worth $241k.
On the dual listed shares; PPC drew five trades valued at $320k and SeedCo International drew six trades worth $248k as it added 2.2% to close at $2.2543 (US$0.15).
The gains saw the All Share Index close 8.2% higher at 235.06 while the Industrials Index added 8.18% to close at 783.93. The resurgent big caps saw the Top 10 Index rise by 9.62% to close at 226.89 and gains in Bindura Nickel saw the Minings Index rise by 7.34% to 298.80.
Property stock Mashonaland led the top gainers with a 20% rise to close at 6.12 cents in two trades worth $52.6k. Dual listed PPC also gained 20%, closing at $3.54 (US$0.24) to leave its YTD at +86.32%. Lafarge Cement followed with a 19.97% rise to close at $1.7125 (US$0.12) and leave its market cap at $137 million. Mining stock Bindura advanced 19.91% to close at 15.6 cents and leave its YTD at +65.08%. Consumer stock Simbisa Brands gained 19.6% to close at $1.0628 (US$0.07) and leave its market cap at $591.75 million.

- finx
Tags: Falgold,


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