Equities Market Opens Week Slow As Thins Trades Persist

The ZSE opened the second week with no surprises as the Industrial Index traded in the negative for the sixth consecutive time.

The Industrial Index eased -0,1 percent to 139.76 points weighed down by losses in telecommunications giant Econet Wireless Zimbabwe Holdings Limited down -1,25 percent to 395c, Delta Corporation Limited easing -0,71 percent to 69c, AICO Limited which slipped -6 percent to 14,1c and Innscor Corporation Limited which was -0,02 percent lower at 55c.

Volumes remain persistently depressed with 6,3 million units exchanging hands in trades worth US$340 998. 

The only notable trade of the day was seen in fast foods giant Innscor Corporation Limited where 187 701 shares exchanged hands at 55c while Econet, CBZ Financial Holdings Limited, Delta, AICO and SeedCo Limited recorded paltry volumes with Dairibord Zimbabwe Holdings Limited, Hippo Valley Estates Limited and Pretoria Portland Cement Limited recording no trades.

Insurance group, ZimRe Holdings Limited was the worst performing stock losing -16,67 percent to 1c albeit on thin trades with Trust Financial Holdings Limited following with a -9,09 percent loss of 1c.

Clothing retail group, Truworths Holdings Limited eased -5,56 percent to 8,5c while its counterpart, Edgars Limited was steady buyers at 9c and offered at 9,5c.

Eight counters traded in the positive led by microcap stock Celsys Limited with a 66,67 percent advance at 0,05c, ART Corporation Limited added +14,29 percent to 0,4c while Meikles Africa Limited recovered +3,45 percent to 15c.

Strong buying in Pearl Limited saw the group close 6,25 percent firmer at 3,4c while buying pressure in seed producer SeedCo saw the price put on +1,01 percent to 110,1c.

There were no trades in the resources sector of the bourse.

All counters closed with bids and no offers as Hwange Colliery Company Limited was bid lower at 27c while the other three were steady: Bindura Nickel Corporation Limited (3c), Falcon Gold Limited (6c) and Rio Zimbabwe Limited (29c).