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Enacy Mapakame Business Reporter—

THE Zimbabwe Stock Exchange mainstream industrial index yesterday extended gains by 0,86 percent to 124,84 levels, its highest this year on firming heavy-caps and mid tiers.A total of 60 trades were recorded across the bourse compared to 14 registered in the week’s opening session.

The day’s turnover aggregates also improved as 5,6 million shares exchanged hands, a 263 percent increase on previous day’s closing volumes and yielded $0,61 million. Foreigners dominated trades, which were biased towards disposals. A meagre $841 constituted the day’s purchases while $522 311 worth of shares were sold.

General Beltings and Axia were the top value drivers accounting for a combined 56 percent of the aggregate trades.

Insurance group, First Mutual Holdings Limited led the risers with a 20 percent increase to 3 cents followed by retailer OK Zimbabwe, which rose 3,72 percent to 5,02 cents on firm demand.

The retail group recently reported an 87,1 percent increase in profit after tax to $2,3 million for

the first half of financial year 2017 on the back of growth in basket size and growth in plastic money usage.

Seed producer, Seed Co added 3,66 percent to close yesterday’s session at 85 cents albeit on thin trading volumes.

Seed Co Zimbabwe managing director Mr Denias Zaranyika yesterday indicated the seed company had enough stock to meet the country’s seed needs as farmers across the country prepare for the 2016/17 agriculture season.

Also making up the day’s risers were Meikles and Nicoz Diamond that rose 2,82 percent to 8,74 cents and 2,02 percent to 2,02 cents respectively.

Other heavy cap gains were recorded in Delta and Econet that rose 1,3 percent to 76 cents and 1,6 percent to 27,44 cents in that order.

However, two counters traded weaker for the day.

Insurance giant Old Mutual succumbed 0,01 percent to $3,22 while diversified conglomerate Innscor Africa Limited was 0,26 percent softer to 31,1 cents despite accounting for 42 percent of the day’s total market spend.

The resources index, comprising Bindura, Falgold, Hwange and RioZim gained a marginal 0,03 percent to 35,73 levels.