Foreigners sell-off weakens ZSE further

Foreigners sell-off weakens ZSE further

HARARE, April 22 (The Source) - The equities market opened its second consecutive week in the red, with the industrial index shedding 0.94 points to 163.85 points as foreign investors continue their sell-off.

Foreign buys were $10,500, mainly in SeedCo, CBZ and National Foods while sales constituted $198,000 with total trades at $327,000.

Weighing down the index were losses recorded in PPC, five cents to 205 cents and Seedco which dropped 1.90 cents to 65 cents. Retailer OK Zimbabwe shed a cent to 17 cents while CBZ lost 0.50 cents to 15 cents. Padenga closed 0.60 cents lower at seven cents for a year to date loss of nearly 13 percent.

Old Mutual gained five cents to 250 cents while telecomms group, Econet traded one cent higher to 60 cents and with a turnover of nearly $198,000, contributed 61 percent to the total value of trades.

Zimplow was among those who traded in the black, gaining 0.10 cents to 2.40 cents, having dropped nearly 30 percent of its value since the start of the year.

The resources index remained flat at 28.82 points with no trades being recorded in any of the four mining counters.

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