ZSE index closes weaker but volumes improve

ZSE index closes weaker but volumes improve

HARARE, November 3 (The Source) – Activity on the stock market improved in Monday’s trades but the main industrial index came off by 0.15 points to 177.73 points after negative trades in big caps, Innscor and Hippo.

Hippo traded three cents lower to 60 cents while FMCG group Innscor pared off one cent to 65 cents, both on thin volumes valued at $414 and $6,130 respectively.

First Mutual also dropped a cent or a 20 percent of its share price to four cents. Other losses were in NMB, 0.30 cents to 4,30 cents and Willdale which shed 45 percent of its value to 11 cents.

Three counters traded positively, with National Foods rising by 20 cents to 300 cents. Dairibord and ZB Financial Holdings recorded minute gains.

Among other heavy weights, Econet was flat at 68 cents but saw 904,000 shares trading for $615,000. Seedco was stable atS90 cents with a turnover of $101,000.

Market mover Delta, was inactive during today’s trading session, with bids at 105 cents and offers at 115 cents while retailer OK Zimbabwe was unchanged at 17 cents.

Total market turnover at $819,000 was over 400 percent higher on Friday’s $163,000.

The resources index remained flat at 70.38 points with no trades in the four mining counters.