Despite yesterday's turnover improving 76 percent to $1,3 million from $722 890 yesterday, this remains below the $1,8 million average daily turnover out-turn for the first half of the year.
A selected few stocks accounted for the bulk of the turnover as only 10 stocks managed to value of trades above $10 000 while the top five stocks by value traded accounted for 83 percent of the total value of trades in the day.
Top traded was telecommunications giant Econet Wireless Holdings Zimbabwe Limited (Econet) that witnessed $619 491 worth of trades going through the market as 131 248 units of the stock exchanged hands on the bourse in trades that represented 49 percent of the total turnover.
Other notable trades were seen in the wealthyMeikles Africa limited (MAL) and SeedCo Limited (SeedCo) which accounted for $148 763 and $115 306 of the total value traded for the day.
Fourteen stocks closed in the red with a host of market heavyweights featuring dominantly, among these were Econet that eased 0,11 percent to 470c, Innscor Corporation Limited (Innscor) that came off 2,35 percent to 62,01c and Hippo Limited (Hippo) that shed 4 percent to 120c.
Meikles’ recent falling spree entered new dimensions today as it came off a further -2,38 percent to 31c with 479 881 shares being traded and closed sellers only at that level while AICO’s light that shone brightly after the release of their full year results last week fizzled out in a -2,08 percent fall to 23,5c.
Lightweight penny stock Celsys Limited (Celsys) led the market retreat after shedding 30 percent to 0,07c with struggling cigarette manufacturers BAT (Zimbabwe) Limited following after coming off 22,58 percent to its new all time low of 120c.
Regional tourism group Africa Sun Limited’s woes worsened after dropping -15,38 percent to also trade at a new all time low of 1,1c.
Financial services group CBZ Holdings Limited (CBZ) was the top heavyweight faller coming off -10,56 percent to 16,01c with fellow struggling conglomerate TA Holdings Limited (TA) sealing the top five shakers list with a -5,88 percent fall to 16c.
Holding fort in minimising the industrials decline were nine stocks led by the current year-to-date top performer Fidelity Limited (Fidelity) put on 21 percent to 20c and with it brought up the counter’s Year-To-Date gains to 809,9 percent.
Mashonaland Holdings Limited (Masholds) were up +4,35 percent at 2,4c on resurgent buying pressure in the property group while Dairibord Holdings Zimbabwe Limited (DHZL) steady recovery saw them garner +3,89 percent to 27c with some buying pressure being exhibited. Also holding fort were Delta Corporation Limited (Delta)and OK Zimbabwe Limited (OK) that that put on marginal 0,6 percent and 0,4 percent gains to 79c and 10,05c.
The resources index dropped -1,04 percent courtesy of a lower offer in Rio Zimbabwe Limited (RioZim) at 110c which was lower than the last traded price of the stock at 115c.
Bindura Nickel Corporation Limited (Bindura) traded unchanged at 7c while the rest of the mining stocks recorded no trades.
Post published in: Business