Industrial Index up, mining retreats

zimbabwe_stock_exchange2HARARE - The Industrial Index added 1.06 points to close at 162.77 last week as heavyweight counters led the movers and shakers.

Counters that did well included Interfin Financial Corporation Limited, which went up $0,05, Pretoria Portland Cement, $0,04, National Foods Limited, $0,04, Econet Wireless Holdings Limited, $0,02 and food producer Innscor $0,01.

Counters that won the wooden spoon during the week were Rio Zimbabwe down by $0,05, SeedCo Limited, $0,05, wealthy Meikles Africa Limited, $0,02, TSL Limited by $0,01 and National Tyre Services Limited, $0,05.

The Mining Index retreated 1.75 points to 192.40 points. Mining concerns Rio Zimbabwe Limited, Bindura Nickel Corporation Limited, Falcon Gold Limited, and Hwange Colliery Company Limited were all unchanged for the period under review.

Stock brokers said the bourse would continue performing on average for the first part of the year as there is currently a cash crunch in Zimbabwe.

Most people are using their money to buy essential food stuffs instead of investing on the stock market.

Post published in: Manufacturing

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