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BizDay Zimbabwe

ZSE indices stray into the red

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TWO shares traded in the positive yesterday as both indices on the Zimbabwe Stock Exchange slid into the red.
After trades, the industrial index was down from 0,82 percent or 1,53 points to 185,93, trimming year to date gains to 22 percent as heavyweights traded lower.

The mining index, of four trading shares, dropped a significant 3,63 percent to 64,79 points to close below the January 2 level of 65,12 points, its lowest level this year.

Daily turnover came in at US$1,2 million, lower than US$2 million last Friday, with Delta Corporation and Econet Wireless being the most liquid shares. Fourteen industrial stocks were down, led by a 25 percent drop in cable manufacturer Cafca.

Cigarette maker BAT Zimbabwe lost US5c to US725c largely on profit taking after a fine run that saw the price rising by over 100 percent since January 2 this year.
Selling pressure in CBZH saw the price dropping US0,46c to US14,44c while Delta dropped US0,20c to US122,3c in deals worth US$245 054. Econet was stable at US65,1c after significant deals worth US$838 144 as founder Mr Strive Masiyiwa flagged plans to rebrand and reposition TN Bank in the next 12 months.
Innscor lost US1,01c to US83,99c while Hippo was also US6c weaker at US130c.

OK Zimbabwe dropped US0,40c to US20c while Old Mutual was US5c lower at US225c. TA Holdings lost a further US1c to US6c, its lowest level in 52 weeks.
Hwange Colliery weighed heavily on the resources index after losing US2c to US14c while Bindura and RioZim remained unchanged at US2c and US45c respectively.
Aico Africa slipped a further US0,80c to US4,1c another lowest level in 52 weeks.

Lifestyle Holdings was US0,05c or 10 percent weaker at US0,45c after shareholders on Friday approved the group’s delisting from the ZSE and a Scheme of Arrangement that will see them owning shares in a Mauritius-based company.

The two shares which traded in green were Afdis Limited which added US0,60c to US22,1c and Masimba Holdings which advanced US0,15c to US2,3c.  Business Herald

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