ZSE retreats 1.65% in week opening session…
The ZSE retreated 1.65% in week opening session to close pegged at 555,699.35pts as three of the four indices under our review closed in the red. The Blue Chip Index was 2.48% weaker at 250,063.47pts weighed down by Econet, Tanganda and Delta while, the Agriculture Index closed 0.87% lower at 1,547.76pts. On the contrary , the Mid-Cap Index was 3.78% higher at 2,226,910.54pts. Telecommunication giant Econet was 13.54% weaker at $2,161.5259 as supply continued to outstrip demand in the counter. Construction group Masimba Holdings trailed on a 11.71% loss to 3000.0000 as scrappy 200 shares exchanged hands while, tea producer Tanganda slipped 11.25% to end at $2130.0000. Property concern Zimre Holdings Limited plummeted 9.01% to end at a VWAP of $170.8476 while, beverages giant Delta remained subdued in the session as it dropped 5.08% to $8,164.0795. Headlining the gainers list of the day were the threesome of First Mutual Holdings, NMB and CAFCA that jumped 15.00% to settle at respective circuit breaker limits of $3,220.0000, $2,990.0000 and $5750.0000. Logistics group Unifreight inched up 14.99% to end pegged at $387.5500 while, apparel retailer Edgars continued to enjoy the rising streak as it charged 14.93% to $381.0000, following announcement of its intention to delist on the ZSE and list on the VFEX.
Volume of shares traded declined by 55.49% to see 1.80m shares worth $1.85bn exchange hands, representing a 58.48% drop in turnover. OK Zimbabwe dominated the activity aggregates in the sessions as it contributed 85.17% of the volume and 74.64% of the value traded. The other notable value contributor was Econet that claimed 20.12% of the total. In the ETF category trading was mixed as two funds faltered against three that rose. Morgan & Co MSE and Cass Saddle ETF rose 13.10% and 0.13% respectively. Morgan & Co Made in Zimbabwe ETF was 0.45% firmer at $16.0725 post announcement of a US0.00506 cents maiden dividend.