Special Bargains In Hippo, Pelhams Highlight Day’s Trades Ahead Of Unity Day Holidays

Old Mutual recorded its fourth consecutive gain putting on +4 percent to 130c, SeedCo added +0,99 percent or 1,01c to 103,01c on thin trades as Tobacco Sales Limited put on 19,47 percent to 896c.

Banking group, CBZ recovered from its doldrums adding +2,88 percent to 7,5c but remains buyers at 7,2c.

Special bargains in Hippo Valley Estates Limited and furniture group, Pelhams Limited and normal trades in Delta Corporation Limited helped lift turnover to US$8,372 million as volumes soared to 156 million.

A special bargain of 5 million shares in Hippo involving local players went through at 110c (a 10 percent premium to normal trades) while, Pelhams which has received a fair share of special bargains over the past three months, saw a special bargain of 145 million units crossed at 0,71c being 12,3 percent discount to previous market price of 0,81c.

Heavy foreign selling in Delta saw the group close -0,14 percent lower at 70c with 2,1 million units exchanging hands in trades worth US$1,5 million. 

Local investors, however, dominated trades with accounting for 90,7 percent against foreigners’ 6,3 percent.

Foreign investors were net sellers by US$493 000 after outflows amounted to US$780 000 against inflows of US$287 000.

Other notable losses were seen in Meikles Africa Limited touched 52-week of 16,97c after dropping 10,63 percent as Tobacco Associates Limited and Dairibord Zimbabwe Holdings Limited lost 1c apiece to 12c and 18c, respectively. 

The resources sector was uneventful with Rio Zimbabwe Limited being the only counter to record a trade.

The ZSE’s Mining Index slipped a marginal -0,01 percent to 79.80 points after RioZim traded -0,01 percent softer at 35c and closed net sellers at the same level.