Zimbabwe Stock Exchange bull run breaks after 18 days


The Zimbabwe Stock Exchange’s mainstream index closed in the red for the first time in 18 days yesterday, shedding 0.21 percent to 515.95 points.

The resources index also shed 1.32 percent to 133.12 points after losses in Bindura.

Market capitalisation stood at $14.6 billion while the local bourse recorded a total market turnover of $5.3 million in the day.

Retail giant, OK Zimbabwe led the fallers, easing by 13.76 percent to settle at 25 cents while Meikles lost 7.89 percent to settle at 35 cents.

Additionally, FML eased 5.77 percent to trade at 20.09 cents while Axia lost 1.72 percent to settle at 28.01 cents.

Leading the gainers were Nampak Zimbabwe and Mashonaland Holdings whose share prices rose 3.45 percent and 3.43 percent to settle 18 cents and 3.62 cents in that order.

Dawn Properties and Delta advanced 0.80 percent and 0.50 percent to trade 2.52 cents and 305.97 cents respectively.

Afdis advanced 0.33 percent to settle 190.62 cents.

On the resources space, Bindura weighed down the mining index after its share price eased 3.09 percent to settle at 5.33 cents.

RioZim, Hwange and FalGold remained unchanged at their previous trading prices.

Foreigners were net sellers in the day disposing shares worth $1.9 million compared to buys worth $1.3million. –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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