We, however, strongly believe the current low price offers significant opportunities for bargain buyers who are looking at buying value at discounted prices as Econet remains a highly profitably and cash-rich company.
By close of trade the Industrial Index had slipped -0,25 percent to 160.83 points.
Other notable losses were seen in Dairibord Holdings Zimbabwe Limited (DHZL) down -4,35 percent (-1c) at 22c, Murray & Roberts (Zimbabwe) Limited (M&R) eased -3.,0 percent (-0,50c) to 13 while OK Zimbabwe Limited (OK) lost -3,23 percent to 9c. The duo of property counters ZPI and Mashonallnd Holdings Limited shed -3,45 percent apiece to close at 1,40c and 2.,8 , respectively, as they traded significant volumes of 1 million and 5,6 million units, respectively.
Financial stocks were on the spotlight today dominating the gains though on marginal changes.
Of the eight counters that traded in the positive, four were banking stocks as most financial institutions have released impressive June interims.
NMBZ Holdings Zimbabwe Limited (NMBZ) added +3,85 percent to 1,35c, Barclays Bank Zimbabwe Limited put on 1.,4 percent to 6,6c while CBZ Financial Holdings Limited (CBZ) was +1.,3 percent firmer at 15,20c.
TN Financial Holdings Limited (TN) continued on its upward trajectory hitting a 52-week high of 2,96c and has returned 228.,6 percent since announcing its interims last month.
Another gainer of note was Nicoz Diamond Zimbabwe Limited which closed +31,67 percent firmer at 2,91c on buying pressure.
Total turnover amounted to $1,079 million from 15,5 million shares while foreign participation was negligible.
The ZSE's Mining Index, on the other hand, added +0,61 percent to 158.88 points buoyed by a +0,87 percent recovery in Hwange Colliery Company Limited (HCCL) to 58c.
Rio Zimbabwe Limited (RioZim) traded unchanged at 90c while Bindura Nickel Corporation Limited and Falcon Gold Limited (Falgold) recorded no trades.
Post published in: Business