There were, however, dramatic price movements on both side of the spectrum as Murray & Roberts (Zimbabwe) Limited (M&R) and Meikles Africa Limited (MAL) led the charge putting on +15,38 percent and +10,69 percent to 15c and 29c, respectively, while profit taking weighed in on FBC Financial Holdings Limited and TN Financial Holdings Limited (TN) which dropped -10,71 percent and -12,60 percent to 7,5c and 3,4c, respectively.
The absence of buying appetite in CBZ Financial Holdings Limited (CBZ), saw the group reverse -3,25 percent and closed at 15,5c albeit on thin trades.
CBZ had established a resistance level of 16c following the release of an impressive set on interim numbers for the interim period to June 30, 2011.
Conglomerate Tobacco Associates (TA) Holdings Limited, saw a 21,4 percent improvement in the bid price from 14c to 17c but recorded no trades with offers at 20c as investors warm up to the interim results in which they reported a bottom line of $1,9 million boosted by insurance operations. Despite strong buyers Innscor eased a marginal -0,08 percent to 70c and remains buyers while subsidiary Colcom Holdings Limited put on +4,65 percent to close at 45c on a significant volume of 254 000 in trades worth $114 000.
ZB Financial Holdings Limited put on +0,83 percent to close at all time high of 12,10c while insurance giant Old Mutual Limited was +0,69 percent firmer at 146c.
Total turnover declined to just above a million at $1 031 420 from $1 774 609 as volumes traded fell 36 percent to 5,7 million shares. Total foreign purchases and sales stood at $370 256 and 191 138, respectively.
The ZSE's Mining Index, on the other hand, sank deeper into the negative territory on losses in Bindura Nickel Corporation Limited (Bindura) and Rio Zimbabwe Limited (RioZim)I.
The Mining Index shed -1,41 percent to 153.47 points to widen the gap between the resources and mainstream index to 4,7 percent as Bindura lost -6 percent to 4,7c while RioZim retreated -5,88 percent to 80c. Hwange Colliery Company Limited (HCCL) traded unchanged at 58c while Falcon Gold Zimbabwe Limited (Falgold) recorded no trades.
Post published in: Business