Heavyweights dominated ZSE trades

Heavyweights dominated ZSE trades
Published: 12 August 2013
HEAVYWEIGHT stocks dominated trading on the Zimbabwe Stock Exchange last week with three of the stocks accounting for more than 75 percent shares traded during the week.

A total of 24,77 million shares exchanged hands during the week in which Econet, Delta and CBZ accounted for most of the stocks that were traded.

Mobile phone operator Econet Wireless accounted for 40,57 percent of the trades, beverage maker Delta 29,7 percent and financial group CBZ contributed 8,74 percent to the sales.

Total market capitalisation declined 14,9 percent to close the week at US$5,57 billion, including shares on foreign registers. On a year to date basis the ZSE has put on 27,09 percent to rank among the most profitable stocks in Africa thus far this year.

The industrial index closed the week 15,2 percent lower at 196.02 points. The mining index closed the week 12,6 percent weaker at 57,94 points. Heavyweight stocks namely Delta Corporation, Econet Wireless and Innscor lost 20,67 percent, 20,59 percent and 23,62 percent, to US119c, US54c and US80c, respectively.

ABC at US55c, NicozDiamond US1,70c and Old Mutual US250c were the top gainers of the week, after increasing by 10 percent, 8,97 percent and 3,31percent respectively.

Masimba’s share price at US8c, Edgars US10c and PG Industries US0,30 recorded the most significant losses, down 37,25 percent, 28,57 percent and 25,00 percent respectively.

Turnover on the ZSE stood at US$4,3 million on Friday with foreign buys accounting for US$2,4 million of the revenue while foreign sales slightly topped the US$3 million mark.
- herald
Tags: ZSE,

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