Going forward the market direction is likely to be dictated by June interims which are expected to start trickling with the first being Zimplow Limited analyst briefing booked for Thursday, July 28.
By close of trade the Industrial Index eased -0,46 percent at 165.53 points amid significant trades with total turnover topping $3,1 milllion while volumes traded stood at 89 million shares.
The largest trade of the day was seen in tourism concern African Sun Limited were 9,38 percent (78 million shares) of the Group were crossed at a price of 1,5c in trades worth $1,1 million.
Local investors accounted for the lion’s share of the trades with 88,97 percent of purchases relegating foreign investors to 11 percent ($346 885) while outflows stood at $637 853.
The Industrial Index was dragged down by losses in Delta Corporation Limited which slipped -1,28 percent at 78c and remains largely offered while Dairibord Holdings Zimbabwe Limited faltered under selling pressure to ease -5,36 percent at 26,50c.
Colcom Holdings Lited shed -4,76 percent after a cross of 50 million shares was challenged from 43c to finally close at 40c.
Gainers outnumbered losses by nine to six while 28 counters traded unchanged.
Hippo Valley Estates Limited traded unchanged at 110c as foreign investors offloaded 411 990 shares in trades worth $453 000.
Telecommunications giant Econet Wireless Zimbabwe Holdings Limited remained steady at 455c on usual volumes of 44 million shares.
A strong recovery in ART Limited saw its put an impressive +42 percent at 1c making it arguable the best counter on the bourse today.
The Mining Index, on the other hand, put on +0,85 percent at 161.42 points buoyed by gains in Hwange Colliery Company Limited (WCCL) up +1,25 percent at 56,7c.
Volumes remain subdued in the resources sector weighed by losses fears of the indigenisation policy which remains unclear.
Rio Zimbabwe Limited (RioZim) and Bindura Nickel Corporation Limited traded unchanged at 100c and 7,50c, respectively.
Post published in: Business Analysis