22 January 2018
Government orders blood price reduction
- One day’s supply left of key blood group
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
Mugabe exploited my illiteracy: Mujuru
Engineers group to expose fake degrees
Grandpa, 83, says minor pestered him for sex
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
Anger as Dembare approach City player
Cricket: ICC clears Zimbabwe's Vitori
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
Weak trading on ZSE as cabinet gets to work
19/09/2013 00:00:00
by Roman Moyo
WEAK sentiment continued on the Zimbabwe Stock Exchange (ZSE) this week, with the outlook likely to remain in the negative as investors are still digesting the line-up of the new cabinet.

Increased concerns over how the new cabinet would handle the economy continued to overshadow the buying interest in most counters on the stock market.

The bearish trend has been worsened by the miniscule funding that is available on the market and intense money market illiquidity.

Analysts said some investors were taking positions ahead of the policy pronouncements that the government would adopt.

Zimbabwe Stock Exchange (ZSE) shares opened the week in negative territory in lacklustre trades as investors remained cautious over the stock market following the appointment of a new cabinet last week.

Turnover was weak at below US$567,704 from 51 trades made up of US$99,970 foreign purchases while foreign sales were at US$4,000.

At close, the Industrials Index was down 0,3 percent to 187.78.

There was mixed trade in Tuesday’s mixed session as investors continued to search for impetus to move sentiment strongly in the northward direction.

At close, the Industrials Index had a 0.2 percent uplift to 188.15c although trading remained mixed as the country officially opened its Parliament.

On Wednesday, gains in BAT, Econet and Old Mutual were enough to sustain the stock market's second consecutive gain as investment sentiment slightly improved although trading remained mixed.

BAT, which could have reported an interim profit were it not for the once-off indigenisation expense, was 50c higher to 10.50c taking its year to date gain to 191.67 percent.

Econet put on 0.5c to 50.50c after the group pledged to enhance shareholder value at its AGM on Tuesday.

The firm trades saw the Industrials Index close with a 0.22 percent uplift to 188.56 while the Minings Index remained flat at 48.56. Turnover was around US$1,54 million.

The country anticipates a flurry of new investment particularly in the diamond sector following the EU's decision to lift sanctions on ZMDC diamonds.


Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it






Face Book



comments powered by Disqus
RSS NewsTicker