ZSE falters in month opening session

HARARE - The Zimbabwe Stock Exchange (ZSE) faltered as it opened with a total market capitalisation of $8,7 billion after shedding 1,19 percent in the week of March 2, 2018.

Indices slipped back into the red on the first day of the new month except for the Mining Index which was constant at 124,91 points.

Industrial and All share Index dropped an identical 0,19 percent to end session at 293,99 points and 87,86 points apiece.

The Top 10 Index was 0,24 percent lower at 86,86 points pull down by telecoms giant Econet which traded at $0,6800 after shedding 1,06 percent.

Axia and fast food group Simbisa lost 2,78 percent and 2,50 percent to $0,1750 and $0,3900 respectively as conglomerate Meikles led last Friday’s risers edging up 1,67 percent to close at $0,3050 trailed by Proplastics which gained 1,39 percent to $0,0730.

Crocodile skin producer Padenga ticked up 0,53 percent to $0,4398 and banking group Barclays advanced 0,47 percent to settle at $0,0432.

Multi listed Old Mutual capped the risers of the day with a 0,28 percent lift to $5,3249 on firming demand.

The market registered a positive breadth as risers dominated fallers by a count of three.

However, trading in heavyweights was weak in the week to Friday, with Delta, Econet and Innscor all recording losses of 1,89 percent, 1,52 percent and 0,18 percent , respectively.

The week’s top gainers were Zimplow, up 21,95 percent, Ariston, up 20,00 percent and Masimba, up 6,76 percent as largest losses were recorded in Fidelity Life, Bindura and British America Tobacco, which were down 16,67 percent, 11,86 percent and 7,03 percent , respectively.  

In the week under review, volumes traded totalled 80,05 million shares and averaged 16,01 million shares per day as weekly turnover totalled $15,21 million with an average daily value of $3,04 million for the week.

Activity was highest in Econet, Delta and First Mutual Properties, contributing 24,29 percent, 17,73 percent and 8,19 percent respectively. 


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