ZSE shares slip back to negative territory

0
413
Zimbabwe Stock Exchange
Zimbabwe Stock Exchange

HARARE – The stock market slipped back to negative territory on Monday after second tier losses managed to offset gains in select heavyweight counters.

Turnover was low at $32.2 million, below the August daily average of about $50 million and was mostly made up foreign sales. Foreigners sold $21.56 million shares as they divested out of Econet ($6.41 million), Innscor ($5.32 million), Simbisa $4.43 million and Delta at $2.43 million. Activity levels remain subdued with trade count at 220 and volume traded at 9.57 million shares.

The All Share Index was down 1.33% to 1 268. Art led the losers falling 19.84% to 152c. Clothing retailer Truworths was down 17.65% to 14c, brickmaker Willdale shed 14.92% to 20.42c while Dairibord, which is currently trading under cautionary pending a merger transaction was 10.17% lower to 476.09c.

The Medium Cap was the worst performer among the indices, losing 1.65% to 2 589.97. The Small Cap Index was 1.59% lower at 4 520.45 but with a year to gain of 609.37%.

The Top 10 index was down 1.07% to 810.97. Cassava was down 4.48% to 458.20c and parent company Econet was down 0.87% to close the day at 450.00c. The ICT Index was the worst performing sector as a result, with a loss of 3.09%. Tourism group RTG suffered a 4.38% loss in its share price to close at 248.60c.

The losses were offset by a gain of 4.40% to 371.24 in OK Zimbabwe and a 1.92% increase in Padenga to 1 102.51c.

Meikles also added 1.67% in the session to close at 1 220.00c but the Top 15 Index shed 0.82% to 942.59. Meikles released its March year end results today which showed a below-inflation revenue outturn with profitability only boosted by exchange gains and fair value adjustments.

close

Sign up to receive awesome content in your inbox, every day.

We don’t spam! Read our privacy policy for more info.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

twenty − four =