Zimbabwe Stock Exchange sheds 9 percent in January

The Zimbabwe Stock Exchange All Shares index dropped 8.68 percent in January to close at 91.32 points, on profit taking in most counters as the local bourse continues to correct itself from the bull run that ended in November last year.

The Top 10 ten index lost 9.57 percent to close at 90.43 points on losses recorded by several heavyweights.

Additionally, both the industrial and mining index declined by 8.31 percent and 8.41 percent to close at 305.35 points and 130.42 points respectively.

Market capitalisation fell 9.68 percent from $9.58 billion in the previous month to $8.65 billion, mirroring the losses recorded by the benchmark index.

However, year-on-year, the market capitalisation is up 121.66 percent.

Total market turnover also decreased by more than half to $34.7 million from $75.4 million recorded last month.

On individual counters, Econet and Innscor eased 24.05 percent and 9.75 percent to settle at 70 cents and 80.25 cents respectively.

OK Zimbabwe, Old Mutual and Padenga dropped 17 percent, 5.78 percent and 12.26 percent to trade at 16.6 cents, 520.17 cents and 48 cents in that order.

Simbisa and National Foods shed 15.43 percent and 7.69 percent to settle at 39.75 cents and 600 cents respectively.

BAT also eased 18.91 percent to trade at 2.895 cents.

Afdis, African Sun and ART eased 2.03 percent, 6.25 percent and 19.77 percent to close at 145 cents, 4.5 cents and 5.6 cents respectively.

Ariston, Barclays and CBZ dropped 14.71 percent, 25 percent and 33.33 percent to trade at 1.45 cents, 4.5 cents and 10 cents in that order.

Dairibord and Dawn eased 17.54 percent and 20.5 percent to settle at 11.05 cents and 1.59 cents respectively.

Fidelity, FML Holdings and Mashonaland Holdings dropped 27.27 percent, 4.31 percent and 13.29 percent to trade at 8 cents, 18.66 cents and 3 cents respectively.

FML Properties and PPC also eased 18.03 percent and 13.46 percent to settle at 5 cents and 90 cents respectively while Wildale and ZPI shed 10.96 percent and 16.67 percent to trade at 0.65 cents and 2 cents respectively.

On the gainers side, Delta added 3.75 percent to settle at 166 cents while Cafca and Edgars advanced 16.67 percent and 11.94 percent to trade at 35 cents and 4.5 cents.

Meikles and TSL also gained 19.86 percent and 22.12 percent to settle at 35 cents and 45 cents respectively.

Additionally, Unifreight, Zimpapers and Zimplow added 2.11 percent, 1.82 percent and 2.3 percent to trade at 1.45 cents, 1.12 cents and 8 cents in that order.

The loss recorded by the resources index was on the back of Bindura after its share price slipped by more than a quarter to 4 cents while other mining companies remained unchanged.

Foreigners were net buyers in the month, purchasing shares worth $17.78 million while disposing of shares worth $6.14 million. – The Source

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