ZSE equities fall

Zimbabwe Stock Exchange equities fell more than 2 percent over the past week following declines in stock prices of eight of the 10 top tier industrial companies. In the week to Wednesday, subdued activity prevailed across beverages, financial services, fast food, telecommunications, manufacturing and retail sectors that make up ZSE’s top capitalised stocks.

These account for $20,9 billion or 69,8 percent of total market value. Resultantly, the market’s total value went down 2,08 percent to $30 billion compared to $30,6 billion recorded in the prior week. The primary indicator the ZSE All Share Index retreated 2,13 percent to 231,99 points while the market’s heavies, the ZSE Top 10 Index fell 2,21 percent to 207,07 points.

At 772,28 points, the Industrials Index eased 2,07 percent. On the resources side, although none of its counters are in the top 10 capitalised stocks, the mining index was the hardest hit during the week with a 4,65 percent decline to 328,48 points on losses in Bindura and RioZim.