adminpoints as capital constraints continue to weigh down resources counters.
Daily revenue improved slightly to about US$5,5 million from US$5,3 million the previous day while volumes came in at about 57,4 million shares.
The major highlight of the day was a special bargain of 50 million OK Zimbabwe shares valued at US$5,2 million or US10,5c per share.
Fund managers said the market would continue to be subdued in the wake of uncertainty over dates for the general elections later this year. Stocks will also remain under pressure from the prevailing liquidity challenges.
With liquidity shortages persisting on the bourse and the whole economy in general, the delay in coming up with clear economic reforms has been cited as the contributing factor to the present quagmire.
Analysts said a favourable environment, coupled with clear investor protection policies, must prevail to encourage investment and ease the liquidity problem.
The economic recovery should continue and is likely to accelerate if clear economic reforms are enacted.
Leading yesterday’s fall was Cafca, which lost US7c to US62c and PPC, which fell US5c to close at US240c. Delta was US1c lower at US67c.
Of the gainers, CBZ rose US0,50c to US6c after posting US$30 million during full year to December 31, 2011. PTA Bank has announced that it has extended US$60 million to CBZ bank for on-lending.
DZHL and Fidelity Life, last year’s top performers, gained US0,10c each to US17,10c and US16c respectively. Mash Holdings was US0,05c firmer at US2c.
African Sun was up US0,02c to US0,75c. Turnover for the hospitality group for the five months to February increased 19 percent to US$22 million compared to last year’s corresponding period, chief executive Dr Shingi Munyeza told an annual general meeting last week.
On current performance, the group can surpass its US$60 million target this year.
Online Reporter