4 January 2013

Zimbabwe: ZSE Recovers On Second Day

THE Zimbabwe Stock Exchange industrial index yesterday recovered on the second day of trading in the New Year, gaining 0,07 points to close at 151,37 points. This was on the back of mixed trading. The market opened bearish on the first day after the Christmas and New Year holidays, easing 1,1 points to close at 151,3 on the back of losses in blue chip counters Econet and Delta.

On the second day, gains were recorded in counters such as Old Mutual, Radar, Innscor, ZBFH, Padenga and PPC.

Delta also recovered, adding a cent to close at US$1 per share.

Losses, however, dominated, with counters such as TN Bank, TPH, Afdis, DZLH, Hippo, FBCH, Fidelity Life and Pioneer on the downside.

The mining index, which has four counters - Bindura, Falgold, Hwange and RioZim - remained unchanged at 66,29 points.

A lot of activity is anticipated on the bourse this year, with the highlight being the demutualisation of the bourse expected in the first quarter of the year.

Some counters such as TN Bank will also be delisted from the bourse.

New Ziana

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