Zimbabwe Market Watch | June 25th 2015: Zimbabwe equities continue to show red…Market Cap dovetails by US$50 Mill

Harare, Zimbabwe (Capital Markets in Africa):- The Zimbabwe Stock Exchange (ZSE) industrial index and market capitalization continued in red today. The industrial index fell by 0.98 percent or -1.48 points to end at 148.60 points.

Market capitalization dived by US$ 50 million to end at US$3.864 billion (against US$3.901 market cap recorded at yesterday’s trading session). The Minings index remained flat today settling at 40.19 cents.

The market activity remained bearish again today keeping to its downward trend with a turnover of US$75.365 exchanged in 6 traded securities via 30 trade transactions (relative to US$ 202.310 recorded yesterday and US$ 948.472 the day before that).

Foreign investor buys stood at US$28,082 and no foreign sells were made at the end of today’s trading sessions. Out of the 6 traded securities, TURNALL Holdings Ltd was valued at US$2,296.09 exchanged in 191,341 traded securities and UNIFREIGHT Africa Ltd’s value was recorded at US$1,550.00 exchanged in 155,00 traded stocks which left it with a bid price of 1 Cent.

In terms of the market price leaders and laggards, two securities ended in the green region and four ended in the red district. In the green were TURNALL Holdings Ltd as indicated earlier but also Pretoria Portland Cement Ltd which added 0.01 percent gaining 0.01 cents to trade at 120 cents.

Following UNIFREIGHT Africa Ltd into the red district were INNSCOR Africa Ltd (down by -5.97 percent or -4.00 cents to end at 63 cents), ECONET Wireless (down 4.73 percent or 1.99 cent to trade at 40 cents), and SEED Co (plunged by -0.01 percent to settle at 95.50 cents),

Econet Wireless led the way in foreign buys valued at US$28,081.60 out of a total market activity value of US$47,073.60 (foreign buys therefore accounting for more than half of its volume traded today).

In terms of Sector activity the Banking and financial sectors were flat today pulled up only by the year to date increase of 56.86 percent recorded for Barclays Bank of Zimbabwe Ltd.

Mining, Food and Industrial Holdings all remained flat with only Building and Associated Industries Sector rising due to the 0.01 percent and 0.20 percent increases of Pretoria Portland Cement and Turnall Holdings Ltd respectively.