Stock Exchange falls second day in a row as profit making creeps in

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The Zimbabwe Stock Exchange (ZSE) on Tuesday eased for the second consecutive day, dropping 4,94 percent to 371,31 points as profit-taking took hold among punters.  
The industrial index broke a two-month rally — which started on July 18 — on Monday after peaking at 400,03 points last Friday.
Delta led the fallers, dropping 15,05 percent to 229,37 cents dragging the stock exchange. The company’s capitalisation at $2,87 billion, accounts for 27,32 percent of the ZSE total market capitalisation which declined 4,6 percent to $10,5 billion from $11,03 billion on Monday.
About $1,17 million worth of the beverage maker’s shares were traded, representing 39 percent of the turnover for the day, which amounted to $2,97 million.
Dairibord and Hippo Valley eased 9,38 percent and 9,86 percent to 14,5 cents and 130,25 cents respectively.
NMBZ Holdings lost 11,11 percent to settle at 8 cents while Innscor lost 0,13 percent to settle at 150 cents.
Partially offsetting the losses was Ariston, which gained 19,84 percent to 3,02 cents. Financial service group, CBZ gained 10,44 percent to 17,99 cents while Old Mutual advanced 7,28 percent to 729,5 cents.
Zimpapers also gained 1,90 percent to trade at 1,07 cents.
The mining index gained 5,93 percent to 96,89 points as Riozim advanced 9,57 percent to close at 80 cents.
Foreigners were net sellers in the day, disposing of shares worth $827,087 and buying shares worth $656,448.Advertisement