ZSE turnover doubles as $1mln Delta shares change hands

ZSE turnover doubles as $1mln Delta shares change hands

HARARE, March 3 (The Source) – The Zimbabwe Stock Exchange’s market turnover grew by 143,15 percent in the week from $2,34 last week to $5,69 million largely attributable to Delta, which traded shares worth $1,18 million, representing 21 percent of the total market turnover.

On Friday, a foreigner sold Delta shares worth $826,063 of the $841,205 sold, with $487,570 of that order bought by foreign investor (s) while the balance was bought by locals.

The ZSE industrial index this week slipped a marginal 0.26 percent to 134.48 points while the mining index lost 8.56 percent to settle at 55,68 points on the back of the losses recorded by some heavy weights.

Market capitalisation declined by 0,46 percent to $3,75 billion from $3,76 billion recorded in the previous week.

Econet and OK Zimbabwe lost 7 percent and 15,25 percent to close at 13,02 cents and 6 cents respectively. Innscor and Seedco also eased 4,26 percent and 4,84 percent respectively, while Edgars lost 10,42 percent to settle at 4,3 cents.

Partially offsetting the loss recorded by the mainstream index were the gains in Delta and BAT after picking up 1,66 percent and 1 percent to trade at 82,6 cents and 1,520.0 cents respectively.

Simbisa, Old Mutual and National Foods  added 1,54 percent, 0,3 percent and 0,36  percent to trade at 16,5 cents, 346,02 cents  and 352,5 cents in that order.

Leading the gainers pack were Barclays, Meikles and Hippo after gaining 13,64 percent, 11,76 percent and  3,4 percent respectively.

ZB Financial holdings and PPC added 2,89 percent and 2,12 percent to trade at 6,4 cents and 60,25 cents respectively.

The loss recorded by the resources index was on the back of a loss in Bindura which dropped percent to close at 3,3 cents , offsetting a 1,22 percent gain recorded by Riozim to close at 33,1 cents in the week. Hwange and Falgold were unchanged at 3 cents and 1 cent respectively in the week under review.

Foreigners remained net sellers in the week , having sold shares worth $2,11 million and bought shares valued $817,504.