Flat ZSE waits for direction from budget

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HARARE, – The Zimbabwe Stock Exchange mainstream index eased 5,41 percent to close at 346,15 points on Tuesday as investors wait for direction from the 2018 national budget whose presentation is expected on Thursday.

The mining index, however, remained flat at 126,86 points.

ZSE market capitalisation closed at $9,9 billion while market turnover amounted to $1,89 in the day.

Beverage maker Delta eased 13,27 percent to close at 156,23 cents while Old Mutual lost 19,71 percent to settle at 480 cents.

Econet dropped 5,2 percent to trade at 113,52 cents.

OK Zimbabwe and Axia also shed 13,04 percent and 19,75 percent to close at 19 cents and 16,05 cents respectively.

Other heavyweights Seedco, Padenga and Hippo slightly eased 0,3 percent , 0,1 percent and 0,28 percent to trade at 209,37 cents, 55,94 cents and 176 cents in that order.

Dawn also eased 18,99 percent to settle at 2,09 cents.

However, Meikles was the only counter to defy the odds, gaining by 9,13 percent to close at 25,1 cents in the day.

No trades were recorded in the mining space in the day.

Foreigners were net buyers in the day, having bought shares worth $1 million and disposed of shares worth $253,186. -Source