Heavyweights weigh down Zimbabwe Stock Exchange

The Zimbabwe Stock Exchange this week slipped 1.56 percent to 134.83 points while the mining index gained 0.26 percent to close at 60.89 points on the back of the losses recorded by Delta and Econet.

Delta and Econet lost 0.9 percent and 17.65 percent to close at 81.25 cents and 14 cents respectively.

 Old Mutual, Innscor and Seedco lost 1.43 percent, 2.1 percent and 3.2 percent in that order.

Simbisa and National Tyre Service lost 1.52 percent and 12.2 percent respectively, while Mashonaland Holdings and Cafca retreated by 0.5 percent and 0.3 percent.

Barclays lost 4.34 percent while Meikles retreated 15 percent.

Leading the gainers pack were Colcom and PPC which picked up 1.39 percent and 0.85 percent to close at 36.5 cents and 59 cents respectively.

BAT and National Foods added 0.33 percent and 0.1 percent to trade at 1.505 cents and 351.25 cents in that order.

Riozim drove the mining index gaining 0.62 percent to close 32.7 cents. The rest of the counter -Bindura, Hwange and Falgold were unchanged at 4 cents, 3 cents and 1 cent in that order.

Market capitalisation declined by 1.51 percent to $3.76 billion, while market turnover decreased by 3.67 percent to $2.34 million with average daily trades of $467.652 in the week under review.

Foreigners remained net sellers, disposing of shares worth $1.46 million against purchases of $259.258. –The Source

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