Volumes traded slumped to 59 million units from 8,2 million yesterday while turnover dropped to just over a million at $1 004 149. There was an improvement in foreign participation in Econet Wireless Zimbabwe Holdings Limited (Econet), Delta Corporation Limited (Delta), Innscor Corporation Limited and CBZ Financial Holdings Limited (CBZ) as inflows improved to $301 018 while outflows stood at $457 905.
Bearish sentiment continued in the session as heavy cap counters headed southwards while losers outnumbered gainers by 13 to seven.
The trio of Econet, SeedCo Limited (SeedCo) and Hippo Valley Estates Limited (Hippo) shed -2c apiece to 400c, 128c and 95c, respectively while Delta lost a further -1c (-1,35 percent) to 73c.
The downward trend in Meikles Africa Limited (MAL) persisted as the group lost a further -7,14 percent (-2c) at 26c exacerbated by the resignation of Chief Executive Officer, Brendan Beaumont, with effect from September 30, 2011.
National Foods Limited (Natfoods) and fellow subsidiary company Colcom Holdings Limited traded in the negative losing -4,76 percent and -6,98 percent to 80c and 40c, respectively.
Mining counters Bindura Nickel Corporation Limited (Bindura) and Falcon Gold Zimbabwe Limited (Falgold) topped the gainer’s list advancing +4,22 percent and +7,53 percent to 4,2c and 7c, respectively.
Bindura held its Annual General Meeting (AGM) yesterday where shareholders approved a $10 million convertible loan facility from parent company, Mwana Africa Limited to enable the group to continue its care and maintenance programme.
Notable gains in the mainstream sector were Inncsor Corporation Limited (Innscor) which put on +1,56 percent to 65c on foreign demand, CBZ advanced +1,45 percent to 15,2c while Tractive Power Holdings Limited (TPH) added +2,50 percent to 12,30c.
Rio Zimbabwe Limited (RioZim) and Hwange Colliery Company Limited (HCCL) were unchanged at 60c each on significant volumes of 197 230 and 211 643 units, respectively.
Post published in: Business