ZSE closes positive


The Zimbabwe Stock Exchange closed positive yesterday as the market continues to trade sideways amid few fundamental pointers on the direction it should take.

At the close of trading yesterday, the ZSE’s main industrial index had gained 2 percent to 771,82 while the ZSE Top 10 index was even better with a 2,89 percent gain to 213,61.

The ZSE’s positive close was on the back of a 12,69 percent gain in Cassava to 157,87 cents, FML up 4,17 percent to 25 cents and Econet up 3,23 percent to 173,38 cents.

The market was however not short of fallers with Art topping the losers with a 6.67 percent drop to 14 cents. Seed producer, Seed Co was 4,63 percent weaker at 191,27 cents ahead of the 2019/20 agriculture season where sales are expected to be higher than prior year.

Seed houses normally make good sales following a drought as governments and NGOs invest in capacitating farmers to ensure food security.