ZSE index falls again in forgettable week

via ZSE index falls again in forgettable week | The Source January 24, 2014

The equities market’s main industrial index slumped by a further 1.28 points on Friday to close a troubled week at 195.27 points as negative sentiment continues to hold.

The index dropped a notable 7.46 points in the week, due to the negative trades mainly in the heavy weight counters.

In Friday’s session, hotelier African Sun topped the day’s movers, gaining 0.30 cents to 2.70 cents. There were also minute gains in FBC, 0.08 cents to 13.10 cents, Pearl 0.03 cents to 2.70 cents and Econet, 0.01 cents to close at 60 cents.

Weighing down the index were losses recorded in big cap counters, Old Mutual, which pared 10 cents to 230 cents while Hippo and Innscor eased three cents to 95 cents and 2.99 cents to close at 75.01 cents respectively.

Delta was flat at 128 cents with 900 000 shares trading for nearly $1.2 million.

Week on week, the turnover was slightly lower at $9.1 million compared to the $9.8 million recorded during last week’s trades. Market movers, Delta and Econet dominated the market, with a combined turnover value of $7.2 million.

The resources index gained 0.31 points on Friday to close at 35.49 points after Hwange traded 0.50 cents to six cents while Bindura was a shade in the black by 0.01 cents to settle at 1.30 cents. On a weekly basis, the index was 3.33 points lower at 35.49 points on the back of weak trades in Bindura during the week.