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ZSE continues to fall

HARARE — The Zimbabwe Stock Exchange All Shares index slipped for the sixth week running, dropping 0,35% to close at 90,05 points as profit taking continues mainly in large and mid-cap stocks.

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The Top 10 index lost 1,15% to settle at 89,22 points on losses recorded by BAT and Seedco.

Market capitalisation fell 0,49% in the week to close at $8,58 billion from $8,62 billion in the previous week.

Total market turnover, however increased by 39,56% to $16,72 million from $11,98 million in the previous week.

BAT and Seedco lost 18,49% and 1,93% to close at 2,445,36 cents and 195 cents respectively.

Ariston, Barclays and ZPI also lost 19,31%, 4,44% and 2,5% to settle at 1,17 cents, 4,3 cents and 1,95 cents in that order.

Proplastics and Dairibord also eased 1,32% and 0,45% to trade at 7,5 cents and 11,05 cents respectively while OK Zimbabwe dropped 0,24% to close at 16,55 cents.

On the gainers pack, heavyweights Simbisa, Innscor and Old Mutual advanced 4,17%, 3,94% and 1,07% to close at 42 cents, 84,19 cents and 535,64 cents in that order.

Additionally, CBZ gained 0,1% to settle at 10 cents.

On the mining space, only Bindura lost 7,25% to close at 3,71 cents while other mining counters Hwange, RioZim and FalGold remained unchanged at 3,8 cents, 120 cents and 2,2 cents in that order.

Foreign participation continues to be subdued on the local bourse, with only 30,69% of the trades being foreign trades. Additionally, foreigners remained net buyers in the week, with purchases amounting to $7,5 million compared to sales of $2,8 million.

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