HARARE – The stock market recorded a marginal loss on Thursday mainly weighed down by losses in select heavyweights and mid-tier stocks. Econet continued to sustain turnover levels in a market that is generally struggling for liquidity.
Turnover was at $93.43 million with more than half coming from Econet at $51.44 million. Econet also led on volume at 3.6 million shares. Activity levels were lower at 337 with most trades being low value driven by retail investors. Foreign sales were at $12.53 million against buys of $3.52 million.
At close, the All-Share Index was down 0.61% to 3 558.13 in a session where losses were marginal. The worst performer, Mash Holdings, dropped 7.96% to 75.48c. The Medium Cap index was down 0.08% to 7 855.60 with performance restricted by gains in Lafarge which added gained 19.85% to 1 570.00c and First Capital Bank up 5.63% 169.89c.
There were gains however in the Small Cap Index closed 1.18% firmer to 13 056.51.
Retail giant OK Zimbabwe was down 7.53% to end the session at 1 484.67c reducing its year-to-date gains to 65.46%. Padenga suffered a 4.53% loss in the session to 2 503.25c and CBZ closed 1.83% weaker at 10 700.00c. Econet shed 0.97% to 1 426.61c. These losses left the Top 10 index 0.91% lower at 2 197.66.
Losses in the index were curtailed by gains in Cassava, Delta, Innscor and FBC. Delta was up 1.32% to 3 353.45c. Financial stock FBC put on a marginal 0.04% to 1 800.67c and Innscor added put on 2.85% to 4 126.34c.
The Old Mutual Top 10 Index ETF was down 1.05% in the day to end the session at 139.00c after 2.3 million units worth $3.2 million were traded in 17 trades.-Financial Express.
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