ZSE sinks deeper in month-ending session

HARARE - The Zimbabwe Stock Exchange (ZSE) closed the month of October in the red as three of the broad indices closed pointing southwards.

However, the resources index was the sole gainer among the benchmarks as it closed in the black after putting on 0,36 percent to end at 217,34 points.

At the close of October, the All Share Index let go 1,49 percent to close at 163,82 points while, the Industrials ended at 549,81 points after trimming 1,51 percent.

The Top Ten Index plunged 2,39 percent to settle at 167,48 points as losses continue to be witnessed in the heavies.

On the last day of the month closed Mash Holdings was the major casualty for a second consecutive day after retreating 20 percent to end pegged at $0,0240 while, Simbisa slipped 13,49 percent to settle at $0,7027.

Beverages company Delta lost 5,33 percent to end at a volume weighted average price of $2,9978 having traded at an intra-day low of $2,9000.

Top capitalised stock Econet weakened further as it dropped 1,50 percent to $2,0855 closing with a spread of $2,0125-$2,0500 with conglomerate Meikles wrapping the top five shakers having dipped 1,43 percent to $0,6900.

Hotelier African Sun led the gainers after advancing 18,28 percent to end at $0,1475 followed by banking group FBC that ticked up 12,90 percent to $0,3500.

Stationery company Art moved up 11,50 percent to $0,0950 while, Padenga edged up 7,52 percent to close at a volume weighted average price of $0,9955.

Property concern Dawn completed the top five gainers after expanding 4,58 percent to end at $0,0251.

Value traded dipped 51,13 percent to $1,19 million while, volumes fell 74,59 percent to see 2,07 million shares exchanging hands for the day.

Econet was the top value contributor for the day after claiming 62,04 percent of the outturn.

Top traded stock by volume was Willdale that accounted for 28,91 percent followed by ART with 22,53 percent contribution.

The market had also closed pointing southwards in the penultimate session of the month of October as heavily capitalised stocks continued to soften.

The main Index, the ZSE All Share retreated 0,61 percent to end at 166,29 points while, the Industrials came off 0,62 percent to 558,26 points.

The Top Ten Index let go 0,62 percent to end at 171,58 points as Delta, SeedCo, Econet and Innscor dipped further.

Mash headlined the shakers of the day after tripping 18,92 percent to $0,0300 while, Edgars which is trading under cautionary trimmed 15 percent to settle at $0,1275.

FML succumbed 10,52 percent to $0,1906 while, Simbisa brands eased 4,15 percent to $0,8123.

Turnall completed the top five fallers of today after a 3,60 percent loss to close at $0,0482. — The Financial Gazette


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