Equities Market In Cheerful Year-End
However, this still falls short by -3,58 percent year-on-year.
This week alone the Industrial Index managed to recover +5,2 percent narrowing the cumulative losses to -3,58 percent from -8,2 percent.
By close of trade 17 counters traded in the positive led by small cap counters against three losses.
Trading was fairly heavy across the board as volumes doubled to 27,2 million units while turnover improved +69 percent to US$2,2 million.
Property counters were the favourite stocks after Mashonaland Holdings Limited added 3,45 percent to close at its all time high of 3c on 5,3 million units, ZimRe Properties Investments Limited put on +20,87 percent to 1,39c on 4,2 million units while a special bargain of 6,4 million units was crossed in Pearl Properties Limited at 3,3c.
Dawn Properties Limited remains the only dog in the properties sector due to its close links with under performer African Sun Limited with a Year-To-Date loss of 41,76 percent while ZPI (+85,33 percent), Pearl (+52.,38 percent) and Mash (+57,89 percent) have all recorded impressive gain in 2011.
The ZSE closes the year in a mixed bag of performances with 43 companies closing the year in the red all recording double digit losses ranging from -12,50 percent (CBZ Financial Holdings Limited) to -85,71 percent (Starafrica Corporation Limited) while 30 companies recorded gains with five counters recording single digit growth, 16 recording double digit growth while nine start performers recorded triple digit growth.
The darling of the year was life assurance group Fidelity Life Assurance Limited up 627 percent at 16c followed by diversified banking and furniture group TN Financial Holdings Limited which sprung a surprise to post 398 percent.
Heavy cap counters closing the year in the positive were SeedCo Limited (+13,40 percent), Dairibord Zimbabwe Holdings Limited (+11,84 percent), Delta Corporation Limited (+7,69 percent), Innscor Corporation Limited (+9 percent), AICO Limited (+5,56 percent) while Econet Wireless Zimbabwe Holdings Limited, Old Mutual Limited, Meikles Africa Limited and Tobacco Associates Limited performed dismally easing -16,14 percent, -16,13 percent, -63,76 percent and -41,46 percent, respectively.
The ZSE’s Mining Index was stable at 100.7 points in Friday trades after Hwange Colliery Company Limited and Rio Zimbabwe Limited were unchanged at 40c and 35c, respectively. The Mining Index closes the year -49,75 percent down with all mining stocks in the red weighed down by capitalisation challenges and indigenisation issues which haunted the sector for the greater part of 2011.