HomeBusinessInnscor Zimbabwe Breaks New Ground, Beefs Up Trading On Local Bourse

Innscor Zimbabwe Breaks New Ground, Beefs Up Trading On Local Bourse

By Laurence Kanyasa

ZIMBABWE’s biggest food supplier Innscor Africa Limited has come out top of the trading log after registering an increase in shares traded on the Zimbabwe Stock Exchange.

The company is a focused group that specializes in light manufacturing businesses, which links up with agricultural producers to produce staple goods for the market.

With a trading value of $285.3958 and a change of +6.49 percent, Innscor was the biggest trading company for the week on the local stock exchange.

Zimplow Holdings Limited was the second-best trading company with +3.61%, which translated into a $20.7250 trading value, Simbisa Holdings followed, registering +3.50% at a value of $182.3976.

In the same bracket was also National Tyres Services (NTS), which recorded +3.17% up whilst its trading value was pegged at $8.4000, while the least on the mover’s table was the country’s biggest retail shop, OK Zimbabwe at a value of $31.8041, which culminated into a +2.03% gain.

While trading this week was slightly lower compared to last week’s on the ZSE bourse, stocks saw a number of shakers pouring money down the drain, recording significant losses.

First Mutual Properties (FMP) were the biggest losers shedding a massive -7.70% southwards with a value of $6.4188. In the same vein, First Mutual Limited registered a loss shedding -4.76%, which translated to a $20.000 trading value.

Seedco shed -4.36% valued at $194 .9981; in the same category, Turnall Holdings shed 3.77 in the negative, whilst Ariston Holdings were the least loser, shedding -3.42% with a trading value of $ 3.5000.

The ZSE market cap indices saw only one index registering above 1%, top ten index had +1.06% 5 translating to a trading value of 10,058.56.

All share index recorded a marginal +0.58%, whilst the top 15 index had +0.8 % at a value of15.077.20 and 11.040.95, respectively.

Small enterprises counter registered losses shedding -0.49%, whilst the medium cap index had -0,84% shed making trade values of 404.554.64 and 24.361.37 in that order.

The financial sector was down by –0.88%, consumer discretionary up by +1.73, consumer staples were up by +1.09%.

The newly introduced industrial index was up by +1.09% with a trading value of 19.020.96. On the other hand, ICTs shed -0.45% followed by the materials index shedding -0.08%, while the real estate index shed -5.25%.

Modified consumer staples index registered a positive return with +1.86% valued at 269.63,

The modified consumer staples index is set to see huge changes as the ZSE is set to introduce a new trader on the bourse.

Innscor success this week has been attributed to the usual month-end shopping spree, where consumers purchase food stocks for the month. 

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