HomeBusinessZSE extends seven-week losing streak

ZSE extends seven-week losing streak

HARARE — The Zimbabwe Stock Exchange All Shares index extended the seven-week losing streak after dropping a further 1,32% in the week to close at 88,86 points.

The Source

The top 10 indexes also lost 1,61% to settle at 88,86 points on losses recorded by several heavyweight counters.

Market capitalisation fell 1,33% in the week to close at $8,46 billion from $8,58 billion in the previous week.

Total market turnover, however, increased by 62,11% to $27,1 million from $16,72 million in the previous week.

The largest company by market capitalisation, Delta lost 2,85% to close at 161,27 cents while BAT and Econet eased 1,04% and 1,1% to close at 2,420 cents and 69,23 cents respectively.

National Foods and Simbisa also dropped 10% and 4,76% to trade at 540 cents and 40 cents respectively.

AfricaSun, Edgars and NicozDiamond  also lost 18,89%, 11,11% and 22,08% to settle at 3,65 cents, 4 cents and 3 cents in that order.

Additionally, FML and ZPI eased 8,9% and 2,56% to settle at 17 cents and 1,9 cents respectively.

On the gainers pack, heavyweights Innscor advanced 6,99% to close at 90 cents.

Barclays, Fidelity and Meikles also gained 3,26%, 20% and 1,67% to settle at 4,44 cents, 9,6 cents and 30,5 cents in that order.
Zimre also advanced 15% to close at 2,99 cents in the week under review.

All mining companies remained unchanged at previous week closing prices.

Foreigners were net sellers during the week, with a huge selloff amounting to $11,7 million being recorded on Thursday.

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