Market turnover fell to a lowly value of $369 790 as liquidity tightened on the market.
A total of 38 stocks were active and of these only five recorded some gains while losses were seen in 11 stocks. An estimated 9,7 million shares exchanged hands across the board with the small cap stocks Celsys Limited and Willdale Limited dominating on this front.
Weighing on the market were heavy weight losses in Hippo Valley Estates Limited that dropped -4,8 percent to 100c, CBZ Financial Holdings Limited that traded -3,57 percent softer at 13,5c, Old Mutual Limited that came off -3,33 percent to 145c and the wealthy Meikles Africa Limited (MAL) that dropped -1,76 percent to trade at 25c.
Leading the market losses was a 32 percent fall in the price of highly illiquid holding company Radar Holdings Limited (Radar) which closed at 17c having last traded at 25c.
Cairns Holdings Limited traded at 1,6c having shed 20 percent to follow.
Furniture retail and financial services group TN Financial Holdings Limited (TN) closed the day -5,6 percent down at 0,85c ahead of the release of their June interims scheduled to be released today.
Mitigating the market losses were gains in meat processors Colcom Holdings Limited (Colcom) that traded +4,71 percent firmer at 42c with NMB Holdings Zimbabwe Limited (NMBZ) whose interim results are penciled for the August 30, following having gained +3,85 percent to 1,35c.
The other counters to gain for the day were Padenga Holdings Limited, National Foods Limited (Natfoods) and ZB Financial Holdings Limited (ZBFH) that put on +2,13 percent, 1,11 percent and 0,21 percent to close at 4,8c, 91c and 9,77c.
The ZSE's Mining Index, on the other hand, closed flat at 160.37 points as only Hwange Colliery Company Limited (HCCL) traded stable at 60c while no trades went through in Falcon Gold Limited (Falgold), Bindura Nickel Corporation Limited (Bindura) and Rio Zimbabwe Limited (RioZim).
Post published in: Business Analysis