Trades thinned out with the value of trades falling -17 percent to $1,3 million while the volume of shares traded was 45 percent lower than yesterday’s total at 11 967 568 shares.
Delta dropped -1,3 percent to 76c and closed offered at that level as buyers failed to clear the volumes at that level, Hippo slid -1,03 percent to 96c and also closed offered at that level despite the recent trade update at their Annual General Meeting (AGM) were the group reaffirmed their confidence to achieve full year production targets of between 150 000 tonnes – 170 000 tonnes.
Innscor whose recent results had spruced up some excitement in the stock to rise to a 52-week high of 70,02c also succumbed to selling pressure retreating -1,47 percent to trade at 67c by close of call yesterday.
Leading the market losses was cement manufacturers Lafarge Limited whose fortunes on the bourse took a knock in the wake of an unexciting interim set of results closed today down -12,50 percent at 70c albeit on a small volume of just 2 000 shares.
Clothing retail chain Truworths Limited came off 9,1 percent and closed the day at 10c while Chemco Limited (Chemco) marginally reversed yesterday’s whopping 80 percent gains with an 8,3 percent retreat to 16,5c.
Holding fort for the industrials was telecommunications giant Econet Wireless Zimbabwe Holdings Limited (Econet) whose resurgent demand was a breath of fresh air for the group that had gone for four successive trading sessions at a low price of 379c.
In the day’s trades Econet recovered 2,9 percent (11c) and closed at 390c as buyers jostled to get the small volume of 11000 odd shares that were available for trading in normal trades.
Fidelity Life Assurance Limited’s light seems to be regaining its ambience as strong demand drove the life assurer up 7,21 percent to close at 15,01c.
The wealthy Meikles Africa Limited (MAL) buoyed by the potential conclusion of the Pick’n Pay (Private) Limited deal that is set to boost their retail operations continued on a steady recovery path putting on +1,69 percent in the day’s trades to close at 30c with a firm bid at that level whilst likewise financial services group ZBFinancial Holdings Limited gained 16 percent to 14,5 percent bringing their year to date gains to an impressive 85 percent.
The ongoing Zimbabwe Mining Indaba that kicked off yesterday failed to throw impetus into the resources sector as the ZSE's Mining Index dropped -4,72 percent to 149.84 oinpts led by sell off in Hwange Colliery Company Limited (HCCL) and Rio Zimbabwe Limited (RioZim) that were down 3,3 percent and 6,7 percent at 58c and 70c, respectively.
Mitigating the losses was Falcon Gold Zimbabwe Limited (Falgold) that put on 15,6 percent to trade at 5,2c.
Post published in: Business