Industrials Open In The Negative

Total market value traded dropped to less than a million at US$997 122 as volumes thinned out with only 5,4 million shares exchanging hands down from 7 million.

The resources sector dominated the show as the Mining Index put on +2,65 percent at 151.27 points in a heavily traded session that saw the resources sector contributing 42 percent of total turnover (US$421 677).

Foreign participation was negligible with inflows and outflows amounting to US$82 646 and US$165 405, respectively, despite assurances of the safety of foreign investments given at the two-day Zimbabwe Mining Indaba last week.

In the movers and shakers list Murray & Roberts (Zimbabwe) Limited (M&R), topped gainers putting on +14,29 percent at 16c while African Sun Limited was on the opposite side of the spectrum easing -14,29 percent at 1,2c.

Significant losses among heavy weights were seen in AICO Limited (AICO), Meikles Africa Limited (MAL) and Innscor Corporation Limited (Innscor) which succumbed to selling pressure as they shed -5,88 percent, -6,25 percent and -5,30 percent to 24c, 30c and 62,5c, respectively.

SeedCo Limited and Old Mutual Limited (Old Mutual) were marginally lower, easing -0,03 percent and -0,06 percent at 125c and 160c, respectively.

Econet Wireless Zimbabwe Holdings Limited (Econet) recovered +2,50 percent at 410c on thin trades as ABC Financial Holdings Limited (ABC) put on +5,88 percent at 90c.

The mining sector was the most heavily traded on three of the four listed counters with a minimum volume of 200 000 shares.

Rio Zimbabwe Limited (RioZim) was marginally up at 60,02c as 459 000 shares traded through crosses in trades worth US$275 491, Hwange Colliery Company Limited (HCCL) added +3,45 percent at 60c on 230 206 shares while Bindura Nickel Corporation Limited (Bindura) was +0,25 percent up at 4c with 201 529 shares trading.