ZSE closes lower on heavyweight losses

ZSE closes lower on heavyweight losses
Published: 18 October 2019
The ZSE closed the week's trading with a 0.1% loss after moderate losses in some of the highly capitalized counters offset weak gains in other stocks as the market continues to search for a stimulus to pull it back into positive territory. The session yielded eleven gainers and six losers, with activity untypically spread across the blue chips and mid-tier stocks pushed by small trades making up the top gainers.
At the close of trade, market cap stood at $29.6 billion (US$1.92 billion) and turnover reached $12.7 million (US$0.82 million) with 4.5 million shares traded in 57 trades with no significant fresh investment flows coming through the market. Old Mutual drew the highest value traded with $2.8 million in 13 trades as it shed 0.1% to close at $33.0001 (US$2.14). Delta drew the most trades with 18 valued at $2.7 million as gained 0.1% to close at $3.70 (US$0.24).
For the other blue chip counters; British American Tobacco closed unchanged at $50 (US$3.25) following 14 trades worth $900k, Cassava drew 17 trades worth $1.1 million, Econet drew 12 trades valued at $1.1 million, Innscor closed unchanged at $2.80 (US$0.18) after ten trades valued at $381k and National Foods closed unchanged at $9 (US$0.58) with two trades worth $254k.
On the dual listed counters; SeedCo International gained 0.3% to close at $2.7725 (US$0.18) in four trades worth $154k and PPC closed unchanged at $3.10 (US$0.20) in five trades worth $1.2 million.
The All Share Index closed 0.1% lower at 228.2 and the Industrial Index shed 0.1% to close at 760.3. The Top 10 Index lost 0.4% to close at 208.8 while the Minings Index added 0.5% to close at 310.2.
Agro-industrial stock SeedCo Limited led the top gainers with a 10% rise to close at $2.20 (US$0.14) in one trade worth $220. Consumer stock StarAfrica followed with a 3.4% rise to close at 2.9 cents. Horticulture exporter Ariston added another 1.6% to close at 12.6 cents with highest value traded among the top gainers at $13.4k in ten trades. Mining stock Bindura closed 1.5% higher at 13.2 cents and retail stock OKZim gained 0.7% to close at 0.65 cents
Banking stock NMBZ led the top faller with a 2.5% loss to close at 39 cents in two trades worth $234. Econet shed 2.3% to close at $1.6505 (US$0.11) and another banking stock followed as First Capital closed 1.6% lower at 9.84 cents. Tech stock Cassava lost 0.7% to close at $1.468 (US$0.10) and retail stock Axia retreated 0.14% to settle at 64.96 cents.
- finx
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