THE Zimbabwe Stock Exchange main industrial index yesterday rose for the third consecutive trading session, inching up 0,58 percent to 185,89 points on gains in a select blue chips, mid capitalised as well as penny stocks.
Econet inched up US1,50c to US51,51c, BAT, FBC and Seed Co were pushed up a cent each to trade at US901c, US11c and US78c respectively while Pearl rose US0,10c to US3,10c and Zeco advanced US0,01c to US0,10c.
On the downside were Natfoods, which retreated US5c to US2,15c, Padenga slipped US0,70c to trade US5,10c and NMB lost US0,50c to close at US6,50c. The mining index gained 0,83 percent to settle at 47,17 points with RioZim was surging forward by cent to US21c and Bindura added 0,14c to trade at US1,95c.
Gold miner Falgold and coal producer Hwange were traded unchanged yesterday, remaining at Monday’s trading levels of US10c and US11c respectively. Turnover at US$2,2 million came in 10 percent higher compared to the last session with foreign buys accounting for US$1,2 million and foreign sales at US$1 million.
On a month-to-month basis the ZSE industrial index declined 21,99 percent in August to close at 181,71 points with all heavyweight stocks taking major knocks. The index fell as heavyweights Delta, Econet and Innscor registered losses for the month of 26,67 percent, 27,94 percent and 21,90 percent respectively.
Mobile phone operator Econet closed the month of August at US48c as beverage manufacturer Delta dropped to US110c and retailer Innscor fell to US83,4c.
Mid cap counters also took a battering in August as OK Zimbabwe fell 30 percent to US22c, BAT dropping 29,92 percent to US1000c and Dairibord retreating 30,11 percent in the period under review to end the month at US19c.
Financials could also not escape the great trek southward with Barclays plunging 47,69 percent to US60c, FBC dropped 20 percent to US9,6c NMBZ fell 11 percent to US8c while CBZ retreated 10 percent to close at US14c.
While all heavyweights, mid-capitalised and financial stocks all headed southwards the biggest losses in August were recorded in Barclays, Pioneer down 54,02 percent to US4c and AICO Africa which 40,08 percent to US4,5c.
The top gainers of the month were Phoenix up 50 percent to US0,75c, Art Corporation 25 percent to US0,5 and ABC 20 percent to US60c.
The market declined by a significant 21,66 percent to close the period under review at a total market capitalisation of US$6,56 billion (including the foreign register), representing 17,15 percent growth since the beginning of the year.
Turnover rose 27,06 percent to US$54,24 million in August. Delta dominated trades accounting for US$14,46 million worth of shares traded of the trades.