Bears persist on ZSE in midweek trading
The market continued on a downward trend after losing 0.91 percent to close the month at 13,705.12 points. Trading in the negative was tobacco merchant BAT Zimbabwe, which continued to decline and lost $30.00 to $2,300.
Cement manufacturer Lafarge, which is subject to a takeover by new owners, lost $18.00 to end at $102.00 and CBZ went down by $10.05 to close at $140.00.
Seed company, SeedCo was $7.99 and closed lower at $69.95 whilst AXIA which is running a birthday promotion eased $4.07 to close the month at a price of $58.74.
Trading in the positive was construction firm, Masimba, which went up by $6.49 to $49.99, OK Zimbabwe increased by $2.21 to $34.23.
Tanganda gained $0.92 to close at a price of $124.92. First Capital added $0.50 to $7.50 whilst Mashonaland Holdings was $0.24 stronger at $5.24.
Total market cap for the day fell 0,94 percent to close at $1,72 trillion as value traded increased by 36,47 percent to close midweek trading at $344,16 billion.
Financial institution, NMB, led the volumes with a total of 2 million shares exchanging hands, whilst retailer OK Zimbabwe, came in second with 1,8 million shares being traded in the session.
Dairibord, which will usher in a new chief executive in 25 years, saw 614 600 of its shares trade on Wednesday.
Tanganda and Econet completed the top five most traded stocks by volumes as they closed the midweek session with volumes of 373 300 and 313 100.
On Wednesday the bourse saw 14 equities that traded in the negative and nine that traded in the positive territory.
OK Zimbabwe led value trading as $62 million worth of shares were traded, Delta traded a total of $52 million as tea grower and packer, Tanganda, saw shares worth $46,5 million trade. Econet and NMB had total values of $34 million and $30 million.
In the derivative market the DATVEST ETF lost $0.08 to end at $1.42, in the same manner the Morgan & Co ETF lost $1.43 to $26.50.
The Old Mutual ZSE Top 10 went up by $0.66 to close at $5.56, whilst Morgan & Co Made in Zimbabwe ETF gained $0.01 to close at $1.23.
However, the CASS SADDLE Agriculture ETF remained flat at $1.55.-ebusinessweekly
