However, foreign investors, dominated trades through back-to-back trades with outflows at $802 302 (68 percent of total turnover) while inflows amounted to $637 675 (54 percent of total turnover).
Foreign investors sold a total of 1 904 986 shares in SeedCo Limited, Delta, AICO Limited, OK Zimbabwe Limited, Dairibord Holdings Zimbabwe Limited (DHZL)and Starafrica Corporation Limited, while they purchased 823 847 shares in SeedCo, Delta and Innscor.
Foreign investors remain the mainstay of the ZSE providing significant liquidity on the local bourse as foreign investors cherry pick on value and growth stocks with long-term investment cases.
The mainstream Industrial Index slipped -0,41 percent to 162.96 points weighed down by losses in Delta, Murray & Roberts (Zimbabwe) Limited (M&R) and Meikles Africa Limited (MAL).
Construction group M&R slipped -6,90 percent to 13,50 percent, diversified hotelier Meikles lost -2,36 percent to 29c while beverages group, Delta eased -1,23 percent to 80c after reports that the government is mulling introducing a law that bans the sale of alcohol on Sundays while capping the periods retailers will be allowed to sell alcohol products during the rest of the week.
The news article was published in a local Sunday newspaper over the weekend.
Delta was, however, the most heavily traded counter of the day after 612 944 units of the stock exchanged in trades worth $490 355 or 42 percent of total turnover.
Other notable trades were seen in Food and Manufacturing Consumer Group (FMCG) conglomerate Innscor, where 396 850 shares exchanged hands at a stable price of 64,5c in trades worth $255 000.
Among the major performers, TN Financial Holdings Limited (TN) led the charge putting on +12,50 percent to 0,9c after its trading update last week’s Annual General Meeting (AGM) at which they told shareholders they have target topline of $50 million.
CBZ Financial Holdings Limited (CBZ) and ZHL were the only other risers adding 5,58 percent and 3,57 percent to 14,56c and 1,45c, respectively.
The ZSE's Mining Index, on the other hand, closed unchanged at 156.46 points after Hwange Colliery Company Limited (HCCL) and Rio Zimbabwe Limited (RioZim) traded mainly unchanged while Bindura Nickel Corporation Limited (Bindura) and Falcon Gold Limited (Falgold) recorded no trades.
Post published in: Business Analysis