Zimbabwe stock market falls by a third in November


Telecoms giant, Econet eased 34.06 percent to close at 120 cents while SeedCo lost 33.9 percent to close at 207.97 cents in the month under review.

Innscor, Old Mutual and Padenga eased 33.73 percent, 57.98 percent and 28.36 percent to trade at 110 cents, 600.3 cents and 56 cents in that order.

National Foods and OK Zimbabwe eased 13.33 percent and 12.06 percent to close at 650 cents and 22.03 cents respectively while Simbisa lost 26.72 percent to close at 48 cents.

Cigarette manufacturer BAT also eased 2.76 percent to settle at 3695 cents.

Apart from the heavyweights, Afdis, Ariston and Axia eased 21.06 percent, 27.08 percent and 24.91 percent in the month to close at 149.98 cents, 1.75 cents and 19.5 cents respectively.

Barclays and CBZ eased 27.54 percent and 19.91 percent to settle at 6.5 cents and 18.5 cents respectively while Dairibord and Edgars eased 20.23 percent and 28.01 percent to trade at 13.96 cents and 4.19 cents respectively.

Meikles and PPC eased 52.56 percent and 58.56 percent to settle at 23 cents and 142.58 cents respectively while StarAfrica and Fidelity lost 20 percent apiece to close at 2 cents and 11 cents respectively.

Turnall and Zimpapers lost 23.73 percent, 15.38 percent to close at 0.9 cent and 1.1 cent respectively while Zimre and ZPI eased 32.08 percent and 11.11 percent to trade at 1.8 cents and 2.4 cents in that order.

Partially offsetting the loss recorded by the mainstream index, CAFCA and FBC gained 19.97 percent and 2.08 percent to settle at 34.55 cents and 24.5 cents respectively.

General Beltings and Lafarge also gained 33.33 percent and 53.31 percent to trade at 0.8 cents and 137.98 cents respectively while NTS and Proplastics gained 4.55 percent and 5.26 percent to trade at 1.15 cents and 8 cents respectively.

RTG and TSL gained 2.15 percent and 23.49 percent to settle at 0.95 cents and 46 cents respectively.

Unifreight gained 9.23 percent to settle at 1.42 cents while Hippo added 0.86 percent to close the month at 176.5 cents.

Bindura weighed down the mining index in the month under review after dropping 25.73 percent to close 3.55 cents. However, the remaining mining counters RioZim, Hwange and Falgold gained 4.34 percent, 1.6 percent and 9.45 percent to settle at 119.99 cents, 3.8 cents and 2.2 cents in that order.

Foreigners were net sellers in the month, disposing of shares worth $66.9 million and buying shares worth $46.1 million. – The Source


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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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