Negative sentiment persists on ZSE as main index falls

via Negative sentiment persists on ZSE as main index falls | The Source December 4

The bearish trend on the equities market continued on Wednesday, with the mainstream index slipping to a three week low of 212.71 points after shedding 1.07 points.

Negative trades in blue chip Delta, of one cent to 150 cents pushed the market lower, with nearly 855 000 shares for a turnover of almost $1.3 million. In the last three trading sessions, S$9.1 million worth of Delta shares have exchanged hands on the ZSE, with the buyers and sellers all foreign.

Dairibord was the biggest loser, paring four cents to trade at 13 cents while Pioneer closed a cent lower at three cents.

On the upside, telecomms giant Econet traded positively, putting on 0.05 cents to 63 cents with a turnover of $2.7 million for the sale of $4.285 million shares. Retailer OK Zimbabwe recorded a similar gain to 22.05 cents.

Other positive trades were in PPC, one cent to 245 cents and AICO Africa, which rose by 0.48 cents to close at seven cents, both in thin volumes.

Zimplow recorded an out of market trade of $1 million, to push turnover for the day to $7.1 million.

A two cent drop in Hwange pressed the minings index lower by 2.44 points to 46.37 points. Bindura, Falgold and RioZim traded unchanged at 2.20 cents, seven cents and 32 cents in that order.