ZSE shuns prior week gains, dips -0,17%

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  • Blue chips weighed down on gains
  • Financials index down
  • Penny stocks overturned prior week losses

Harare – Despite gains that were sustained during last week’s trades, the local bourse opened on a lower note yesterday after it fell by 0.17% to 6,866.98 points with heavyweights having traded in red.

The index had been performing well the whole last week, with four consecutive sessions registering positive results as demand resurged on stocks fundamentals in valuing shares.

At close day, tobacco marketer and manufacturer, BAT led the losers after it plummeted by -20.000%. The company is allegedly dealing with an issue that involves the late Robert Mugabe and the allegation that it was involved in bribes.

Following closely behind was the country’s biggest milk producer, Dairibord Holdings Limited which decreased by $ 1.461 to close at $ 40,0000.

 Banking giant, NMB Limited shed -3.52% to close at $15,000 while clothing giant, while Edgars Stores weakened by $0.3409 to $3.5000.

Edgars stores announced the appointment of a new Chief Finance Officer Ms. Happiness Vundla effective the first of this month after Bright Ndlovu retired from the Board and as Chief Finance Officer (CFO)on the 31st of August.

Nickel mining counter, Bindura Corporation lost $0,2655 to close at $4,9237.

However, trading in the positive was the diversified food manufacturer Innscor Africa, which extended prior session gains by $1.7149 to end at $ 102,9288, making it the biggest gainer of yesterday’s session.

 Meanwhile, canteens and fast-food giant, Simbisa brands gained ground on inching $1,5519 to close firmer at $42.6593 with the diversified beverages maker, Delta Corporation gaining $1.3388 to $87.3026.

Sugarcane grower and sugar refiner, Hippo valley estates traded in the positive after adding $0.9964 to end at $188.0000 while the food manufacturer and processor, national foods limited went up by $0.4896 to close in the black at $522.4896.

 The financials index traded in the negative after it tumbled by   -0.16% to close at $14,883.39

Equity Axis News

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