Heavies & agriculture counters drag the ZSE into losses…
The ZSE market extended losses into the new month of February as the All-Share Index lost 1.31% to settle at 351.38pts. The Blue-Chip Index was 1.68% lower at 360.51pts while, the Agriculture Index was 0.43% down at 205.40pts. On the contrary, the Mid Cap Index was 0.84% firmer at 328.53pts. Leading the laggards of the day was Telecommunication group Econet that plunged 5.59% to $8.9904, having traded an intra-day low of $8.0945 on scrappy 500 shares. Seed technology group SeedCo Limited retreated 3.05% to settle at $4.5569 while, sugar processor Hippo Valley lost a negligible 0.01% to $8.7200. Trading in the positive category was FML that edged up 6.25% to end at $4.2500, trailed by its subsidiary FMP that rose by 4.96% to $0.8239. Struggling retailer Ok Zimbabwe rebounded 1.24% to end pegged at $0.1180 while, tea producer Ariston firmed up 0.72% to close at $0.0300. Banking group TN was 0.50% higher at $0.1256 as it fastened the top five gainers list of the day.
Activity aggregates faltered in the session as volumes traded fell by 98.75% to 1.01m shares while, turnover fell by 97.41% to $1.88m. Top volume drivers of the day were Tanganda, First Mutual Properties and Econet which contributed a combined 89.21% of the total traded. The trio of Econet, Tanganda and FMP drove the turnover aggregates with respective contributions of 57.91%, 19.14% and 10.01%. The Tigere REIT was 3.67% down at $1.7137 as 16,870 units traded in the name.