HomeBusinessShares lower on profit taking

Shares lower on profit taking

STOCKS eased this week on the back of profit-taking. Week-on-week penny stocks maintained an upside but failed to rally the broader market with mid-cap counters largely remaining stagnant.

NTS, Art, Radar Zimpapers and Ariston led the gains up 53,85%, 33,3%, 20%,16,76% and 14,27%, respectively, on  a week-on-week basis. Most counters remained stagnant while losses were recorded Afre, Dawn, Celsys, Medtech and Chemco down $13,93%, 16,13%,16,67%, 16,67% and 24,55%, respectively.

Shares have been on a downward this week with the mainstream industrial index opening the week lower at 152, 69 points after shedding 0,72 points (0,47%). Meikles lost 5 cents to 50 cents, ABCH eased 3 cents to 36 whilst Colcom was down two cents at 47 cents.

Star Africa dropped a cent to trade at six cents and DZL shed 0,65 cents to close at 16 cents. On the upside Delta went up 1,01 cents to close at 65,01 cents, M&R rose a cent to 19 cents and TPH was 0,50 cents higher at 6,50 cents.

The mining index also dropped 4,05 points (1,72%) to close at 230,99 points as Hwange went down 2 cents to close at 63 cents. Bindura, Falgold and RioZim were unchanged at 17 cents 8,50 cents and 208 cents respectively.

The industrial index retreated a further 1.19 points (0.78%) on Tuesday to close at 151,50 points as heavyweight counters lost ground again
SeedCo shed 5 cents to 95 cents as Innscor came off 3,99 cents to trade at 47,90 cents. Chemco and Old Mutual were each 2 cents lower at 45 cents and 158 cents respectively and OK Zimbabwe lost 0,20 cents to close at 7,80 cents.

The mining index however rose 2 points (0,87%) to close at 232,99 points as Hwange recovered 2 cents previously lost to close at 65 cents. Falgold was bid up at 9 cents with Bindura was unchanged at 17 cents while. RioZim lost 8 cents to 200 cents.

Industrials lost a further 1,36% to 149,46 points on Wednesday as the minings gained 0,30% to 233,69 points after gains in Bindura and Falgold. Bindura added 0,5c to 17,5c.

Chemco was the worst performer for the second consecutive day losing 3,50c (7,78%) to 41.5c while Falgold led the risers after gaining 0,5c (5,88%) to 9c.

 

 

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