Mining stocks continue to tumble on ZSE

17,48 percent in the last 30 days.
Analysts say this could indicate the growing investor concern in the quality of the listed mining companies.

In the last week, coal miner Hwange lost 5,14 percent, Bindura traded flat and Rio Zim lost 4,35 percent.
The gains in Falgold were not enough to stop the resources index from sliding into the negative.
Yesterday, the mining index lost 0,09 percent to close at 160,78 points after Bindura gave up US0,10c to close at US6,90c as Falgold, Hwange and Riozim were unchanged at previous trading days’ levels.

On the other hand, the industrial index gained 0,27percent as the market made a turnover of US$10,4 million in the previous week
In yesterday’s trades, the industrial index opened the week lower at 165,47 points after shedding 0,49 percent.
ABCH retreated US5c to close at US65c, Seed Co went down US4c to US122c and Old Mutual was US3c lower at US149c. CBZ and M&R both closed at US16c after falling US0,52c and a cent respectively.

Five counters traded in the positive territory as Meikles and TPH added US0,50c each to trade at US32c and US15c, US50c and Truworths increased by US0,12c to close at US7,34c.
starafrica gained US0,06c to settle at US1,27c and NTS rose US0,05c to US4,55c.
In the previous week, Econet Wireless dominated, accumulating trades worth US$5,35 million.

Other big value trades were witnessed in Seed Co (US$719 000) and Dairibord (US$650 000) for the week.
Trades in Econet saw the exit of Econet from Rainbow Tourism Group as two parcels of 181 million shares at US2,1c and another of 59 million shares at US2,5c were traded under a special bargain.
The National Social Security Authority, increasing its shareholding to 22,67 percent, took up the parcel.

Fidelity has continued to impress as one of the biggest performers on the bourse with another five-day gain of 672 percent year to date, securing its position as the biggest gainer for the year.
The counter registered its highest share price in the week since dollarisation as it hit US20c on Tuesday but profit-taking adjusted the price to 17 cents by close of trades yesterday.