ZSE index down by 27% after volatile week

ZSE index down by 27% after volatile week
Published: 26 November 2017
The Zimbabwe Stock Exchange industrial index dropped 26,36% to close the week on 318,65 points on losses recorded by most heavyweights, following political events that led to the appointment of the country's second executive president, Emmerson Mnangagwa on Friday.

The mining index also lost 5,78% to close at 126,63 points on Bindura.

Market capitalisation declined by 25,9% in the week to close at $9,15 billion from $12,35 billion in the previous week.

Market turnover also declined by 64% to $29,8 million from $84 million in the previous week.

The largest company by market capitalisation, Delta, lost 35,1% to close at 132,23 cents while the second largest counter, Econet eased 33,82% to trade at 88,68 cents in the week under review.

Hippo Valley and Innscor eased 3,55% and 27,79% to trade at 170 cents and 111,92 cents

National Foods and Old Mutual eased 10,96% and 60,21% to trade at 650 cents and 457,55 cents respectively.

Padenga, Seed Co and Simbisa eased 32,8%, 45,21% and 20,3% to settle at 54,43 cents, 147,08 cents and 54 cents in that order.

Axia and Barclays eased 28% and 32,14 to trade at 18 cents and 5,7 cents respectively.

CBZ, Edgars and Fidelity life eased 19,91%, 9,62% and 15,38% to settle at 18,50 cents, 4,7 cents and 11 cents in that order.

FML, Meikles and OK eased 4,88%, 24,79% and 45,5%to settle at 19,50 cents, 28,58 cents and 14,05 cents respectively.

PPC, Proplastics and TSL eased 31,12%, 10,59% and 16,36% to settle at 188,02 cents, 7,6 cents and 46 cents respectively.

Additionally, Zimpapers, Zimplow and Zimre eased 15,38%, 19,9% and 15,49% to trade at 1,1 cent, 6,52 cents and 1,8 cents in that order.

On the mining space, Bindura lost 21,78% to close the week at 3,52 cents while the remaining mining counters Riozim, Falgold and Hwange remained at previous week prices.

Foreigners were net sellers in the week, disposing of shares worth $6,4 million compared to buys worth $6,3 million.
- The Source
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