THE Industrial Index on the Zimbabwe Stock Exchange (ZSE) this week closed at 166.50 points after gaining 0.53 points stockbrokers confirm.
Stockbrokers said this amounted to a 0,32 percentage gain for the period under review.
Counters that did well included tobacco producer and processor, BAT Zimbabwe Limited (BAT) which went up by 10c to 170c, Hippo Valley Estates Limited (Hippo) up by 3c to close at 115c, Tractive Power Holdings Limited (TPH) up by 2,5c to close at 14,5c.
TPH is among the subsidiaries that are being off-loaded by the Reserve Bank of Zimbabwe (RBZ) as it abandones its quasi-fiscal activities to concentrate on its core business of financial control.
The RBZ owes cerditors more than $1,5 billion.
Other counters that did well were Turnall Limited (Turnall) up by 1c to close at 13,5c and Murray & Roberts (Zimbabwe) Limited (M&R), the construction and engineering entity, which went up by 1c to lose at 18c for the period under review.
The counters that won the wooden spoon included telecommunications giant Econet Wireless Zimbabwe Limited (Econet) down by 4,99c to close at 485c, farming entity Zimplow Limited (Zimplow) down by 2c to end at 9c, CAFCA Limited (CAFCA) 2c to end at 56c, seed producer SeedCo Limited (SeedCo) which was down by 1c to close at 130c, and wealthy Meikles Africa Limited (MAL) also down by 0,4c to close at 40,6c for the period under review.
The Mining Index, on the other hand, lost 1.75 points to close at 189.52 points for the week under review.
Stockbrokers said this amounted to a 0,91 percentage change for the period.
Miners are still very unhappy about the new Indigenisation and Economic Empowerment Act, pointing out that it "stifles investment and scares away potential foreign investment to cash-strapped Zimbabwe".
The Minister concerned, Saviour Kasukuwere, a strong Zanu PF cadre and former CIO boss, however, maintains that this is "untrue".
Minister Kasukuwere says he will not change his mind because the "indigenous" citizens of Zimbabwe own the land won after a long struggle culminating in Independence on April 18, 1980.
Post published in: Business