Zimbabwe Stock Exchange cools down

Profit-taking in selected counters saw the Zimbabwe Stock Exchange’s main industrial index lose 0.66 percent to close the week on 514.3 points, on losses in selected heavyweight counters.

The mining index however gained 6.5 percent to close at 137.25 points, on gains recorded by Bindura in the week.

Market capitalisation declined by 0.56 percent in the week to close at $14.62 billion from $14.7 billion in the previous week.

Total market turnover increased by 42.69 percent to $47.22 million from $33.09 million recorded in the previous week.

The largest company by market capitalisation, Delta eased 0.05 percent to close at 306 cents in the week.

Mobile operator, Econet eased 2.42 percent to settle at 179 cents while Innscor eased 6.31 percent to settle at 167 cents.

Padenga and OK eased 1.88 percent and 8.7 percent to trade at 79 cents and 22.57 cents respectively.

Simbisa also eased 4.41 percent to settle at 68 cents while BAT and Old Mutual eased 6.74 percent and 0.62 percent to close at 3 800 cents and 1 428.86 cents respectively.

Seedco was the only heavyweight to record a gain after it advanced 6.8 percent to settle at 310 cents.

ART and Axia eased 7.69 percent and 5.36 percent to close at 6 cents and 26.50 cents in that order.

FBC and Fidelity fell 3.73 percent and 14.06 percent to close at 24 cents and 13.75 cents respectively.

FML also eased 9.4 percent to settle at 19.48 cents.

First Mutual Property, Mashonaland Holdings and Willdale eased 1.53 percent, 3.31 percent and 5.06 percent to settle at 5.8 cents, 3.5 cents and 0.75 cents in that order.

On the gainers pack were CFI and Dawn whose share prices rose 2.14 percent and 3.17 percent to close at 71.50 cents and 2.6 cents respectively.

Hippo and Lafarge advanced 4.01 percent and 8.76 to settle at 175 cents and 90 cents respectively.

Star Africa and TSL also advanced 4.17 percent and 1.09 percent to settle at 2.5 cents and 3.7 cents respectively.

On the mining space, Bindura added 22.4 percent to settle at 5.41 cents while RioZim added 0.66 percent to trade at 114.75 cents.

Other mining counters Hwange and Falcon remained unchanged at 3.74 cents and 2.01 cents respectively. 

Foreigners remained net sellers in the week, disposing of shares worth $27.3 million compared to buys of $13.7 million. –The Source

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