adminmining index rose 0,33 percent to 88,80 points.
Revenue for the day improved to US$1,16 million from a paltry US$392 000 on Tuesday. Shares traded came in at about 8,2 million.
Analysts say investors, particularly foreigners, were reluctant to participate on the ZSE due to uncertainties over the country’s general elections.
Parties to the Global Political Agreement, which gave birth to the inclusive Government, have confirmed the elections will be held later this year.
Foreign interest has been waning on most listed stocks except on the highly sought-after blue-chip counters such as Delta, Innscor and Seed Co.
Analysts are hoping that the resolution of the eurozone crisis will be successfully implemented. This will result in an increase in liquidity in European markets and a return to demand for emerging stocks.
Despite the bearish trend the market has been experiencing since last year, the local equities market still offers long-term growth potential given the increased profitability and return to dividends.
Zimbabwe is also likely to benefit from the increased attention the developed markets are paying to emerging and frontier markets.
After trades yesterday, BAT gained US5c to 190c. The cigarette manufacturer reported a 884 percent increase in attributable profit to US$4,8 million in the full year to December 31 2011 on the back strong volumes.
Chairman Mr Kennedy Mandevhani said increased sales volumes were registered in “key and iconic” brand Madison, which grew by 61 percent.
The tremendous increase in volumes helped turnover growth to US$39,8 million from US$22,9 million, an increase of 74 percent year on year.
Innscor rose US1c to US58c, Dairibord advanced US0,45c to US17,95c and Zimpapers pushed up US0,35c to US1,05c. The gains were however offset by losses in Hippo, which shed US5c to US95c.
Colcom was down US0,99c to US30c, Edgars retreated US0,5c to US7,50c Meikles dropped US0,22c to US13,78c while Pelhams slipped US0,2c to US0,60c.
Bindura was US0,20c firmer at US2,50c, Falgold, Hwange and Riozim were unchanged at previous trading levels.
Last week, there were several special bargains on the market. Bargains in OK, Hippo and Ariston lifted the daily average value to US$4 million.
Also, good volume in blue chip counters such as Delta Corp, Econet and Innscor Africa contributed to the high turnover for the week.
Despite high levels of trading, the industrial index ended 1,8 percent lower at 136,76 points whilst the mining index lost 0,51 percent to 85,01 points.
Online Reporter