admin
Business Reporter
THE Zimbabwe Stock Exchange industrial index was unchanged at 217,2 points yesterday despite volumes of shares traded vaulting by 93,4 percent to 8,5 million. The total value of shares traded yesterday was up 8,6 percent at US$1,14 million with 502 shares Delta exchanging hands.
Other value leaders included Barclays at US$128 000, Econet US$122 655, Innscor US$79 496 and FBC US$37 752.
Top gainers yesterday were led by pharmaceutical concern MedTech, which rose 14,3 percent to US0,08c, AICO up 10,4 percent to US5,52c, Zimplow surged 7 percent to US3,8c while TSL inched up 6,1 percent to close at US35c.
Heading southwards were Art, plunging 33,3 percent to US0,4c, Fidelity Life tumbling 9 percent to land at US10c as Dairibord slid 5,3 percent to US18c and Zimre retreated 1,4 percent to close yesterday’s session marginally weaker at US1,38c. At 45,6 points the mining index was 1 percent slower after a 10 percent decline in coal miner Hwange, which closed at US9c. The mining index retreated despite a 16,7 percent surge in Falgold to US7c. RioZim and Bindura were unchanged.
Year to date GB is leading the value gainers after putting on 700 percent to US0,08c, Pioneer rose 300 percent to US4c, Trust added 300 percent US0,8c, Willdale gained 280 percent to US0,19c as BAT jumped 247 percent to US1,250c.
The ZSE, however, continues to be dominated by foreign investors due to liquidity constraints in the domestic economy, which has restricted participation of Zimbabwean investors.
Tight liquidity in the domestic economy has resulted in most of the stocks listed on the local bourse trading at prices grossly disproportional to their net asset values.
It is feared that capital and working capital constraints could actually result in a significant number of lightweight and cash- strapped firms relinquishing their listings.
Online Reporter