The Industrial Index lost -1,06 percent to 150.63 points being -0,42 percent below the year opening figure of -151.99 points as the equities market begins to feel the impact of integration to the weakening global economy.
The Industrial Index which managed to post gains and hold fort despite indigenisation issues and political uncertainty is now buckling under pressure from lack of liquidity due to withdrawal of foreign buyers on fears of weakening global economy.
Losing counters outnumbered gainers by 19 to 13 in a bearish trading session that saw active counters rise to 50 of the 75 listed counters.
Heavy weight counters which are first port of call for foreign investors traded in negative with Econet Wireless Zimbabwe Holdings Limited easing -1,78 percent to 380c on sell-off, Delta Corporation Limited down -2,10 percent to 70c, while AICO Limited and Innscor Corporation Limited lost -10,20 percent and -4,18 percent to 22c and 58,49c, respectively.
Old Mutual Limited slipped -2,11 percent to 139c albeit on thin trades.
Among the notable gainers was Hippo Valley Estates Limited and Dairibord Holdings Zimbabwe Limited up +1c apiece at 86c and 22c, respectively, while Tobacco Associates Holdings Limited put on +20 percent (+3c) to 18c.
Retail counters Truworths Limited and Edgars Limited advanced +5,56 percent and +0,78 percent to 9,50c and 10,30c, respectively.
The volume of shares traded improved three fold to 17,8 million shares from 4,4 million boosted by a cross of 9,3 million shares in African Sun Limited.
Volume traded were concentrated in mid-tier stocks Dairibord (819 410 shares), Fidelity Life Limited (500 648 shares) and Cafca Holdings Limited (203 593 shares) while trading in heavy caps remain depressed.
Value traded remain below the $1 million mark at $898 334 though a slight improvement from last Friday’s $842 274.
Foreign investors were depressed with inflows amounting $243 522 while outflows stood at $172 766.
A -1,85 percent loss in Hwange Colliery Company Limited at 53c, saw the ZSE's Mining Index shed -1,29 percent to 140.10 points as its YTD losses breached the -30 percent mark at -30,09 percent.
Hwange which was the only mining counter with YTD gains is now trading at its breakeven price of 53c albeit with a lower bid at 51c.
Rio Zimbabwe Limited recorded no trades but closed quoted 58c bid and offered at 65c.
Post published in: Business