ZSE turnover nearly doubles as foreigners dominate trades

ZSE turnover nearly doubles as foreigners dominate trades

HARARE, March 25  (The Source) – The Zimbabwe Stock Exchange (ZSE) market turnover increased remarkably by 94 percent in the week to $11,8 million driven by high turnover in telecomms firm, Econet.

On Friday, Econet shares worth $7,95 million shares exchanged hands while foreigners sold shares worth $7,8 million and bought shares worth $7,9 million.

But the industrial index lost 0,28 percent in the week to 137.08 points on the back of a 5,47 percent loss recorded by Econet to close at 14,18 cents.  

The mining index advanced slightly by 0,07 percent to close the week at 53,63 points in the week.

Market capitalisation declined by 0,27 percent to $3,81 billion from the $3,82 billion recorded in the previous week.

Delta eased 0,87 percent to close at 85,25 cents. Seedco and Innscor shed 0,34 percent and 0,04 percent to close at 93,18 cents and 44,98 cents respectively.

Edgars and Afdis also lost 9,3 percent and 8,33 percent to close at 3,9 cents and 55 cents respectively.

Dawn and CBZ eased 7,14 percent and 1,96 percent respectively while StarAfrica and Hippo lost  1,75 percent and 1,55 percent.

Gains were made in OK Zimbabwe and Simbisa which picked up 1,67 percent and 0,59 percent to settle at 6,1 cents and 17,1 cents respectively.

Padenga gained 6,12 percent to close at 18,2 cents in the week.

National Foods, BAT and Old Mutual also  added 0,35 percent, 0,33 percent and 0,31 percent to close at 353,75 cents, 1,530.0 cents and 351,5 cents respectively.

Ariston and FML  led the gainers pack after picking up 35,14 percent and 21 percent to close at 0,5 cents and 6,05 cents respectively.

Additionally, NTS, ZB Financial Holdings and PPC gained 8,91 percent, 4,76 percent and 2,46 percent respectively.

The gain recorded by the resources index was on the back of a gain in RioZim share price  which advanced 0,15 percent to close at 33,65 cents. The remaining mining counters Bindura, Hwange and Falgold were unchanged at 3 cents, 2,9 cents  and 1 cent respectively.