Negativity persists on ZSE in watchful trade

By Alfonce Mbizwo, HARARE, August 15 (The Source) – Negative sentiment persisted on the stock market with investors remaining watchful for possible bargains.

The main industrial index again retreated marginally, down 0.77 points to 190.34 points in a largely quiet trading session.

The biggest loser was Pioneer whose share price slipped 19.54 percent (1.7 cents) to 7 cents. National Foods pared 35 cents to close at 210 cents while insurance group Old Mutual was five cents weaker at 235 cents.

Retailer OK Zimbabwe shed a cent off yesterday’s price to trade at 23 cents while AICO and Dairibord where each 0.50 cents lower at 5, 50 cents and 19, 50 cents respectively.

Gains in beverage giant Delta, which added a cent to close at 115 cents and hotelier Meikles at 0.77 cents to 28.99 cents helped offset the losses. Other gains were in Masimba, 0.50 cents to 8.5 cents and Phoenix 0.25 cents to close at 0.75 cents.

The Mining Index remained unchanged at 56.17 points.
“We are going to see many quiet days likes today, before the market takes a definite direction,” a trader told The Source.