adminMarket ripe for long-term investors
THE Zimbabwe Stock Exchange remains an ideal pick for investors with sufficiently long-term perspectives, analysts have said. They said investors could take advantage of the dips in the market, as this provided an opportunity to buy stocks cheaply. They added that the market was ripe for investors who do not focus on the present, but those who stay on course.
Meanwhile, the market closed the week last Friday firm, with the Industrial Index gaining 0,19 percent to close at 198.04 points, while the Mining Index remained unchanged at 101.78 points. The risers were: Pioneer, up 33,33 percent to close at 4c; Dairibord gained 8,33 percent to close at 13c; Nicoz gained 7,14 percent to close at 1.5c; SeedCo added 1,08 percent to close at 94c; and Old Mutual gained 0,9 percent to close at 279.5c. The losers were: Dawn, down 20 percent to close at 0.8c; Medtech fell 16,67 percent to close at 0.05c; and TSL fell 3,57 percent to close at 27c.
There was a special bargain done in ABCH for 46 million shares, where Bob Diamond’s Atlas Mara acquired a majority holding in ABCH, boosting the value of trades to $40 million.
derick.khumalo