Equities Continue To Sink, Thin Trades Resurface

Turnover declining to US$776 623 from 4,6 million shares in normal trades while a special bargain of 9,1 million shares in TN Financial Holdings Limited at 4c saved the day helping total turnover close at US$1 155 063 from US$2 million recorded.

Foreign investors, however, were the dominant players especially in Econet Wireless Zimbabwe Holdings Limited, Innscor Corporation Limited and Delta Corporation Limited, accounting for 56 percent of turnover and remained net sellers with sales amounting to US$650 775 against purchases of US$476 474.

Trading was bearish with losers outpacing gainers by 12 to four although most heavy cap counters traded unchanged.

The Industrial Index slipped -0,63 percent to 143.43 points weighed down by Hippo Valley Estates Limited and CBZ Financial Holdings Limited as its Year-To-Date loss widens to -5,18 percent.

Hippo slipped -3,53 percent to a 52-week low of 82c while CBZ eased -3,57 percent to 13,50c.

Tourism group, Rainbow Tourism Group eased -10 percent despite assurance by the tourism minister that government does not intend to repossess any of the properties under which RTG operates.

Retail duo OK Zimbabwe Limited and Truworths Limited lost -8,42 percent and -1,11 percent to 8,7c and 8,9c, respectively.

Delta and Econet were unchanged and accounted for the lion’s share trades boosted by back-to-back foreign trades while Dairibord Holdings Zimbabwe Limited added 4,19 percent on foreign buying pressure.

There was  limited trading in the resources sector with the only trade seen in gold miner Falcon Gold Limited which closed the day -6,25 percent lower at 7,5c.