ZSE REVIEW: Equities return to the green with marginal gains

zse5It’s turning out to be a topsy-turvy week for the equities market, having started the week on a high followed by two consecutive losses and then a return to the green in today’s trades.

The market still lacks stimuli from the broader economy.

Despite this, the industrial index was marginally up by 0.02 points (or 0.01 percent) to close at 168.55 points following gains in giant telecoms Econet, clothing retailer Edgars and construction firm Masimba Holdings.

Econet and Edgars both moved up 0.50 cents to close at 55 cents and 9.50 cents respectively, while Masimba added 0.20 cents to close at 1.50 cents.

Trading in the red was cement maker PPC, which lost 5 cents to close at 185 cents, FBC Holdings which eased 0.50 cents to trade at 7.50 cents and Mashonaland Holdings which retreated 0.10 cents to settle at 2.60 cents.

Turnover stood at $1,2 million as foreigners – who typically dominate the market – were in “sell” mode. Foreign sales of $1,1 million outweighed foreign purchases of $923 435.

The Zimbabwe Stock Exchange’s market capitalisation currently stands at $4,3 billion.

The mining index was 5.66 points (or10.64 percent) lower at 47.56 points after Bindura and RioZim were offered lower at 4 cents and 12 cents respectively.

Falgold and Hwange were unchanged at 2.50 cents and 4 cents respectively.

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