Zimbabwe Market Watch | 7th July 2015: Zimbabwe industrial index remains in the red, down -2.08%, Mining recovers but market cap drops to US3,800 Mill…

Harare, Zimbabwe (Capital Markets in Africa):– The Zimbabwe Stock Exchange (ZSE) industrial index remained in the red zone as the week entered it’s second day of trading with market capitalization also in the red. Market activity, foreign buys and foreign sales all dropped down into the red at the end of the day’s session with only the Mining Index finding some recovery.

The Industrial index went into the red by -0.28 percent going downwards 0.41 points to end at 145.03 points, putting further strain on the year-to-date pushing it to -10.90 percent and -22.62 on a year-on-year basis.

The Mining index however, continued it’s recovery  with an increase of -0.02 percent or 0.01 points to settle at 42.10 points (-41.29 percent and -22.83 percent year-to-date and year-on-year return respectively).

The market capitalization ended at US$ 3.800 billion, dropping US$0.02 million from last weeks trading. The market activity recorded a Turnover of US$479,945  via 44 trade transactions.

Foreign investors bought US$294,469 and foreign sales of US$182,659 at end of today’s trading session with INNSCOR Africa Ltd and SEED CO Ltd recording foreign trading sales of US$167,985 and US$14,304 respectively.

Out of the 44 traded securities, Zimre Property Investments Ltd led the market activity with 1232,200 securities traded with a value of US$9,981 with a price of US$0.81. This was followed by Bank of Zimbabwe with 904,500 Shares traded at US$4.00. Dairibord Holdings Ltd also weighed in with volume purchases of 645,400 traded securities with a value of US$51,616 at a price of US$8.00.

While no major price changes were recorded by Fidelity Life Assurance Ltd (55,000 traded volumes), Mashonaland Holdings Ltd (52,500 trade volumes)  and Hippo Valley Estates Ltd (41,800 traded volumes) they recorded values of US$4,125, US$1,050 and US$15,884 respectively.  ECONET Wireless Limited recorded 2,000 traded securities valued at US$680 with a price dropping -2.85 percent at US$34.

In terms of the market price advancers and decliners, three securities ended in the green region and four ended in the red region leaving the price movement weighted in favor of the reds. In the green zone Seed Co Ltd gained by 0.52 percent or 50 points  to trade at US$96, OLD MUTUAL was up 1.25 points and increase of 45 percent to close at US$274.50 and INNSCOR Africa Limited went up 0.24 points increasing by 0.39 percent  to close at US$60.25 cents.

Heading the price losers were, Masimba Holdings Limited tumbling 20 points, a -20 percent drop losing to settle at 0.80 cents, Barclays Bank of Zimbabwe Ltd was down by -0.20 points, decreasing -4.76 percent to settle at US$4.00, ECONET Wireless dropped 1.00 points, decreasing -2.85 percent to settle at US$34 while ZIMRE PROPERTY INVESTMENT dropped 0.01 points to settle at US$0.81, a decrease of -2.41 percent.