They said, however, telecommunications giant, Econet Wireless Zimbabwe Limited (Econet) and beverages concern, Delta Corporation Limited (Delta) continued to shine on the lack lustre bourse.
"As we expected, Delta and Econet were the busiest counters on the market accounting for over 90 percent of the day's market turnover of $2,868,031," leading stockbrokers, Imara Edwards Securities (Private) Limited, said.
It said the Industrial index had firmed 0,64 percent in lock-step with CBZ Financial Holdings Limited (CBZ) and Econet which posted strong gains.
The Industrial Index stood at 131.20 points but stood at 130.37 previously.
The Mining Index, on the other hand, stood at 76.60 points up from 76.30 points previously.
"The Mining Index also ticked 0,64 percent in the back on a small gain in Bindura Nickel Corporation Limited (Bindura)," Imara said.
"It is interesting to note the rising prices of some of the mid-tier stocks such as Astra Holdings Limited (Astra), national Tyre Services Limited (NTS) and Pioneer Holdings Limited (Pioneer) in this generally subdued market," Imara said.
On Tuesday, the Industrial Index stood at 130.32 points.
On Friday it stood at 130.36 points.
The Mining Index stood at 76.84 points.
Last Friday it stood at 81.51 points.
"Delta and Econet were the most heavily traded counters where the rest of the market was generally quiet," Imara said in its commentary.
"The Mining Index, on the other hand, rallied 5.73 percent following a strong showing by Falcon Gold Zimbabwe Limited (Falgold) and in spite of losses in Bindura Nickel Corporation Limited (Bindura) and Rio Zimbabwe Limited (RioZim)."
Imara said the Industrial Index traded flat to marginally weaker with the vast majority of the listed counters trading at previous closing levels.
On Friday, high investor risk aversion and competition from fixed income securities continues to stifle trade in equities on the ZSE.
In their Weekly Report for the week ended June 22, Imara had said investors had last week focused their attention on Econet, Zimbabwe's leading telecommunications operator.
Econet has a subscriber base of more than seven million people and recently introduced its EcoCash Money Transfer facility for its subscribers.
On Friday the ZSE's Industrial Index closed the week down -1,34 percent at 130.36 points.
The Mining Index, on the other hand, stood at -0,09 percent with 81.51 points resulting in it closing in the red.
The weekly value of trades was down 54 percent at $8,1 million with sustained local buying in Econet seeing the giant emerge the best and most active stock traded on the ZSE.
"Investors focused their attention squarely on Econet and no other counters recorded any sizeable trades, Imara said in the report.
"Market turnover of $1,395,137 comprised predominently Econet shares while none on the Mining stocks traded."
Post published in: Business