Losses in big caps drags Zimbabwe stocks lower

HARARE,– The Zimbabwe Stock Exchange All Shares Index dropped 0,64 points on Wednesday to close at 96,94 points on losses recorded by heavyweight counters, Econet, Innscor and Hippo.

The Top 10 index also dropped 0,64 percent to settle at 97 points.

Market capitalisation stood at $9,17 billion while turnover amounted $1,16 million in the day.

Mobile operator, Econet eased 0,97 percent to trade at 89,13 cents while Innscor eased 4,04 percent to settle at 95 cents.

Hippo Valley also dropped 3,41 percent to trade at 170 cents.

Fidelity Life and CBZ eased 19,55 percent and 17,01 percent to settle 8,85 cents and 10 cents respectively.

On the gainers pack, beverage maker Delta added 0,16 percent to settle at 155,5 cents while Padenga advanced 0,27 percent to settle at 55 cents respectively.

Old Mutual Life and Meikles added 0,17 percent and 0,4 percent to trade at 480,81 cents and 29,97 cents respectively.

The mining index remained unchanged at 142,4 points.

Foreigners bought shares worth $961,384 compared to sales amounting to $149,356.

Bitcoin traded at $22,179 on the local exchange, Golix, 59 percent above the global market price of $13,907.