The ZSE said heavyweight counters pulled the Industrial Index as comapnies such as Innscor Corporation Limited (Innscor), the wealthy Meikles Africa Limited (MAL), National Foods Limited (NatFoods) and conglomerate Tobacco Associates Holdings Limited (TA) lost 1c each to close at 65c,40c,95, and 16c, in that order.
AFRE Corporation Limited (AFRE) shot up by 0,2c to end the day at 3,5c on the bourse.
Asbestos producer Turnall Limited (Turnall) shed 0,05c to trade at 13,50c during the day.
Major losses were experienced but they were partially offset by gains in Hunyani Limited (Hunyani) and major seed producer SeedCo Limited (SeedCo) which added 0,10c each to trade at 4,60c and 127,90c.
Hotel Group African Sun Limited and PGI Limited (PGI) rose 0,05c to settle at 1,85c and 2,55c, respectively.
African Sun will soon hold an analysts briefing where it is expected to outline the forthcoming investment proposals that its Board has made.
Counters that won the wooden spoon for the period under review included Ariston Holdings Limited (Ariston), down by 0,2 to 1,9c, African Sun by 0,05c to 1,8c and commercial banking entity Barclays Bank Zimbabwe Limited (Barclays) down by 0,02c to end at 6,68c.
The ZSE's Mining Index, on the other hand, raised 0.22 points to close at 189.74 points as major coal producer Whange Colliery Company Limited (WCCL) was marginally up at 63,11c.
The increase represents a 0,12 percentage change for the period under review.
Other mining concerns such as Bindura Nickel Corporation Limited (Bindura), Falcon Gold Limited (Falgold), and Rio Zimbabwe Limited (RoZim) were mainly unchanged at 8c, 3,50c and 145,01c, respectively.
Last week the Minister of Indigenisation and Economic Empowerment, Saviour Kasukuwere, said he would not go back on his decision to slap the controversial indigenisation regulations on foreign owned firms especially from the troubled mining sector.
The miners have, however, told him that the regulations are stifling foreign investment in Zimbabwe.
Under the new regulations "indigenous" Zimbabweans must own at least 51 percent of any entity operating in the country.
Post published in: Business Analysis