Zimbabwe Market Watch | 28th July 2015: Zimbabwe equities industrial index plunges a further -0.17 points, market cap losses reverse previous gains

Harare, Zimbabwe (Capital Markets in Africa):-The Zimbabwe Stock Exchange (ZSE) Industrial Index closed trading in the red zone again today reversing gains made earlier in the week.

The ZSE Industrial Index was down by -0.12% another plunge of -0.17 points to end at 145.61 (-10.55% year-to-date and -20.76% year-on-year basis). The Mining Index however continued on its flat line recording no change in basis points (0.00% rise) to close once again on 40.94 points (taking the year-to-date to -42.90% and year-on-year return to -38.46% respectively).

The market capitalization made a slight loss to reverse gains made earlier in the week ending at US$ 3,821,702  down from US$3,826 billion recorded yesterday. The market activity was lower today with a turnover of US$ 0.874 million exchanged via 50 trade transactions halted by losses in the Telco and Insurance Sectors.

Despite the downward trend in the Indices Foreign Buys and Sales showed a different story as Foreign investors bought US$573,180 outweighing foreign sales which came to US$451,396 at the end of today’s trading sessions leaving sentiment bullish.

In terms of Volumes and value of trades, out of the 60 securities traded, the Retail Sector continued to dominate as OK Zimbabwe Ltd recorded the highest volumes today trading 1,526,050 of it’s securities at US$8.16 per share to end with a value of US$124,525 . Innscor Africa Limited recorded 632,608 at US$62.00 to end up with a value of US$392,216 . Likewise, Econet Wireless Zimbabwe Limited registered 855,182 traded stocks at US$34.00 per share with a value of US$290,761 and Barclays Bank of Zimbabwe recorded 213,714 trades valued at US$9,748 priced at US$4.00 per share.  Finally, Delta Corporation Limited moved 43,383 securities valued at US$43,200 with its share price at US$99.58.

On the market price advancers and decliners, the market swayed in favour of the losers as two securities ended in the green region and four ended in the red region. In the green zone were Colcom Holdings Ltd which increased by 1 point (+4.54%) to trade at US$23.00 cents and OK Zimbabwe Ltd advanced by 0.26 points (+3.29%) to close at US$8.16 cents.

On the Losers side, First Mutual Holdings Ltd down by 0.20 points (-8.33%) to end at US$2.20,  CBZ Holdings Ltd lost by 0.48 points (-4.80%) to end at US$9.50 cents. Delta Corporation Limited moved downwards by 0.42 points (-0.42%) to end at with its share price at US$99.58 and Hippo Valley Estates were also down -0.02 points (-0.07%) to end at US$39.02.