ZSE losses extend for 8 weeks

ZSE losses extend for 8 weeks
Published: 25 February 2018
The Zimbabwe Stock Exchange All Shares index slipped for the eighth week running, dropping 0,64% to close at 88,29 points as profit-taking continues mainly in large and mid-cap stocks.

The top 10 index lost 0,35% to settle at 87,47 points on losses recorded by several heavyweights.

Market capitalisation fell 0,62% in the week to close at $8,41 billion from $8,46 billion in the previous week.

Total market turnover also decreased by 76% to $6,4 million from $27,1 million in the previous week.

Delta and Econet lost 0,97% and 0,32% to close at 159,71 cents and 69,1 cents respectively.

BAT, Old Mutual and Padenga eased 0,83%, 1,89% and 0,02% to settle at 2,400 cents, 520 cents and 44,99 cents in that order.

Ariston and Art also eased 18,8% and 19,64% to trade at 0,95 cents and 4,5 cents respectively while Barclays dropped 3,15% to close at 4,3 cents.

Masimba, Meikles and Namapak also shedded 6,33%, 1,64% and 2,94% to settle at 5,62 cents, 30 cents and 16,5 cents respectively.

Additionally, Willdale and TSL dropped 7,69% and 11,11% to close at 0,6 cents and 40 cents respectively.

On the gainers pack, Innscor added 2,5% to close at 92,25 cents while Afdis and Zimplow gained 2,07% and 2,5% to settle at 148 cents and 8,2 cents respectively.

The gain recorded by the mining index was on the back of Bindura which advanced 7,82% to close at 4 cents, while other mining counters Hwange, RioZim and FalGold remained unchanged in the week under review.

Foreign participation continues to be subdued on the local bourse, with only 40% of the trades being foreign trades.

Additionally, foreigners remained net buyers in the week, with purchases amounting to $4 million compared to sales of $1,12 million.

- The Source
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