Daily trades averaged US$31,33 million by Tuesday compared to about US$20 million during the same period last year.Analysts say uncertainty around financial results of listed companies coming to the market has added to the market drop.So far, eight counters — Pearl, TA Holdings, Barclays, Afre, RTG, BancABC, RioZim and Dairibord— have released their results. Last week a total of 453 652 Econet shares worth US$2,3 million went through a special bargain deal in interim securities at US$4,65 but in normal trades the counter was 1c lower than Art Corporation which traded at US$4,64 as the market turned red.On Monday, the industrial index ended lower at 132, 40 points after shedding 0, 60 cents (0, 45%). Heavyweight counters suffered losses with Old Mutual down three cents at 152 cents and Natfoods twocents softer at 78 cents. Colcom, Econet and Meikles shed a cent each to close at 29 cents, 464 cents and 25 cents respectively. Dairibord and PGI lifted 0, 20 cents each to trade at 8, 20 cents and 2, 70 cents and Gulliver went up 0, 05 cents to 0, 30 cents. Dawn rose 0, 02 cents to close at a cent whilst CBZ was slightly up at 16 cents. The mining index lost 2, 28 points (1,74%) to close at 128, 79 points as RioZim fell five cents to 200 cents and Falgold slipped 0,50 cents to trade at three cents. Bindura and Falgold were unchanged at previous trading day’s levels.On Tuesday, the market was bearish despite an inflation rate drop. For the second month running, the year-on-year inflation rate dropped 1,2 percentage points to 4,1% from 5,3% in June, Zimstat, formerly the Central Statistical Office, said.The industrial index gave up 0, 14 points (0, 11%) to end at 132,26 points. Econet shed four cents to trade at 460 cents and Afre dropped 1,20 cents to close at 5,30 cents. Colcom and Innscor dropped a cent each to close at 28 cents and 52 cents with Cairns lower at 2,10 cents after a 0,60 cents loss. The losses were countered by gains in Natfoods which pushed up 12 cents to 90 cents and PPC which inched two cents to close at 330 cents and Cafca increased a cent to trade at 14 cents. Dairibord gained 0,80 cents to trade at nine cents and ABCH went up 0,50 cents to close at 19 cents.The mining index rose 4, 56 points (3,54%) to close at 133,35 points as RioZim added 10 cents to trade at 210 cents and Falgold advanced a cent to close at four cents. Bindura and Hwange were unchanged at 10 cents and 22 cents. Going forward, Kingdom Stock Brokers (KSB) said the stock market still represents investment opportunities for the long-term investors to take positions in some undervalued stocks.“Investors should consider that the market is currently characterised by high volatility implying that the risk of losing money is also high if one considers that gains above 30% are still being recorded,” they said.“It is however, of paramount importance for investors to put more emphasis on value preservation rather than some aggressive investment strategies which have the potential to cost the investor daily,” said KBS.Analysts said the majority of traders had predicted an improvement in liquidity on the local money market during the second half of the year, which would consequently depress interest rates from their elevated levels.Month-on-month (m-o-m) inflation rate for July remained unchanged at -0, 1% while (m-o-m) food and non-alcohol beverages inflation stood at -0,03% in July, shedding off 0,058 percentage points on the June rate of 0,06. —Staff Writer.
