eBusiness Weekly
Business Writer
The Zimbabwe Stock Exchange (ZSE) closed mid-week trading in the red as the Top 10 index saw losses, as profit-taking seems to be settling in.
The All Share Index added to Tuesday’s losses as it closed 1,05 percent weaker.
It was the second day running of losses with analysts suggesting nothing else but only a retracement.
Market breadth, which measures the depth of investors’ faith in the market, closed on a negative note as 19 losers emerged, compared to 16 gainers.
The mainstream All Share Index dropped by 1,05 percent to close at 15,001.60 points. Similarly, the overall market capitalisation dipped by 1,13 percent to close at $1,87 trillion.
Losses in OK Zimbabwe saw the Top 10 Index declining by 1 percent to 10,082.48 points. The counter shed 7.5 percent to settle at $31.97.
However, FMP led losers, declining by 20 percent to close at 600.00 cents as Axia, which is ranked second among the top 5 gainers year to date, shed 7,89 percent to close at 6,384.00 cents.
Hotelier, African Sun, was 7,34 percent lower to 787.00 cents as milk processor Dairibord closed at 3,323.00, losing 5.03 percent of its share price.
As a result, the Medium Cap Index suffered the most as it succumbed 1,34 percent to close at 23,637.70 points.
The Small Cap Index recovered 1,26 percent to 394,735.70 points on GB Holdings which gained 16,84 percent to 182.00 cents.
Afdis led the gainers’ chart, appreciating by 17,05 percent to close at 17,000.00 cents. Proplastics went up by 10,60 percent to 3,000.00 cents.
Starafrica rose to 172.00 cents, notching up 5.35 percent. The counter has authorised share capital of about 10 billion shares.
Cement maker, Lafarge, completed the top 5, gaining by an impressive 3.65 percent to 8,504.00 cents.
Turnover for the day declined by 39,55 percent to $97,63 million after 1,48 million shares were traded.
Delta was the most traded by value as it got $44,38 million.
