Chronicle Editor
Enacy Mapakame Business reporter
The Zimbabwe Exchange (ZSE) yesterday took a dip with the mainstream Industrials Index declining 1,28 percent to 527,27 level weighed down by losses in the market’s heavies. The equities market has continued to see-saw as it looks for direction amid pockets of profit taking. Total market capitalisation closed yesterday at $15 002 billion. Turnover for the day was $13 677 million, 13 percent lower than the previous day’s $15 783 million.
Activity was skewed towards foreign sales at $2 968 million against foreign buys of $1 507 million. Headlining the bears for the day were clothing retail group, Edgars that fell 19,75 percent to 6,42 cents followed by Zimre Holdings that was 19,62 percent weaker to 2,13 cents. The market’s most expensive stock, British American Tobacco (BAT) reduced by 7,50 percent to $37. Regional cement group, PPC and industrial conglomerate, Innscor Africa were 4,5 percent to $3,29 and 1,83 percent to $1,66 respectively.
Other losses were recorded in Delta, Afdis and Econet that fell 1,13 percent to $3,17; 0,14 percent to $1,83 and 1,64 percent to $1,83 in that order. Both Delta and its associate firm, Afdis recently reported that foreign currency shortages had a knock on effect on their businesses, and if not addressed might cause disruptions to business.
Further losses were offset by gains in agriculture concern, TSL which rose 3,77 percent to 55 cents while CFI Holdings was 1,23 percent firmer to 82 cents. Powerspeed inched up 0,13 percent to 7,5 cents while crocodile breeder Padenga Holdings was 0,3 percent up at 81 cents. Hospitality group, African Sun, First Mutual Limited, Axia and Proplastics were unchanged at 4,1 cents, 20,5 cents, 25 cents and 7,6 cents respectively. The Minings Index of four counters remained flat 138,12 level after Bindura, Falgold, Hwange and RioZim maintained prior levels of 5 cents, 2,2 cents, 3,8 cents and $1,97 cents in that order.
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