Equities ends losing streak with marginal gains

Equities ends losing streak with marginal gains
Published: 02 July 2014
The Zimbabwe Stock Exchange turned bullish today, moving up 0.11 percent on the back of gains in a couple of heavyweights as activity on the market remains subdued as 38 counters traded.

Following today's trades, the industrial index gained 0.20 points to close at 186.69 points.

The positive shift was driven by gains in Hippo, which led the risers as it gained 5 cents to trade at 80 cents, while giant telecoms Econet was up a cent to trade at 68 cents.

Zimplow rebounded by 1.50 cents to close at 6.50 cents and construction firm Masimba was marginally up by 0.01 cents to 1.72 cents.

Four industrial counters traded in the negative territory. Conglomerate Innscor lost 2 cents to close at 75 cents while TSL eased a cent to 27 cents.

Bankers CBZ and insurer Fidelity Life dropped 0.50 cents to trade at 13 cents and 8 cents respectively.

The mining index however maintained the bearish trend, losing an additional 1.91 points (or 3.29 percent) to close at 56.12 points after Bindura went down 0.30 cents to trade at 4.50 cents.

Hwange was unchanged at 4.80 cents, while Falgold and Riozim had firm bids at 2 cents and 21 cents respectively.

Foreign investor sentiment remains in the negative with foreign sales outweighing foreign purchases. Market capitalisation currently stands at $4,8 million.
- BH24


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