HomeBusinessZSE bull run cools down in the week

ZSE bull run cools down in the week

HARARE — Profit-taking in selected counters saw the Zimbabwe Stock Exchange’s main industrial index losing 0,66%to close the week on 514,3 points, on losses in selected heavyweight counters.

The mining index, however, gained 6,5% to close at 137,25 points, on gains recorded by Bindura in the week.

Market capitalisation declined by 0,56% in the week to close at $14,62 billion from $14,7 billion in the previous week.

Total market turnover increased by 42,69% to $47,22 million from $33,09 million recorded in the previous week.

The largest company by market capitalisation, Delta, eased 0,05%to close at 306 cents in the week.

Mobile operator, Econet eased 2,42% to settle at 179 cents while Innscor eased 6,31%to settle at 167 cents.

Padenga and OK eased 1,88% and 8,7% to trade at 79 cents and 22,57 cents respectively.

Simbisa also eased 4,41% to settle at 68 cents while BAT and Old Mutual eased 6,74% and 0,62% to close at 3 800 cents and 1 428.86 cents respectively.

SeedCo was the only heavyweight to record a gain after  it advanced 6,8% to settle at 310 cents.

ART and Axia eased 7,69% and 5,36% to close at 6 cents and 26,50 cents in that order.

FBC and Fidelity fell 3,73% and 14,06% to close at 24 cents and 13,75 cents respectively.

FML also eased 9,4% to settle at 19,48 cents.

First Mutual Property, Mashonaland Holdings and Willdale eased 1,53%, 3,31% and 5,06% to settle at 5,8 cents, 3,5 cents and 0,75 cents in that order.

On the gainers pack were CFI and Dawn whose share prices rose 2,14% and 3,17% to close at 71,50 cents and 2,6 cents respectively.

Hippo and Lafarge advanced 4,01% and 8,76 to settle at 175 cents and 90 cents respectively.

Star Africa and TSL also advanced 4,17% and 1,09% to settle at 2,5 cents and 3,7 cents respectively.

On the mining space, Bindura added 22,4% to settle at 5,41 cents while RioZim added 0,66% to trade at 114,75 cents.

Other mining counters Hwange and Falcon remained unchanged at 3,74 cents and 2,01 cents respectively.  

Foreigners remained net sellers in the week, disposing of shares worth $27,3 million compared to buys of $13,7 million.

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