Business / Economy
Slow start for Zimbabwe Stock Exchange
18 Jan 2011 at 15:22hrs | Views
The Zimbabwe Stock Exchange (ZSE) opened the week on a subdued note with the industrial index shedding weight while the mining index recovered from last week slip.
The industrial index fell from 161,63 points to close at 160.41 today.
Among today's shakers were Econet, which lost US5 cents to close at 495, Old Mutual, which shed 1,96 points to close trade at US150 cents and Meikles which eased a cent to settle at US53 cents.
The mining index that fell by 1,40 points to close at 204,72 last week recovered 0,14 points today.
It closed at 204,86.
Bindura lost US0,9 cents to trade at US10,1 cents while RioZim traded unchanged at US190 cents.
Despite this dip, ZSE has for the past week been experiencing a bullish trend and economic analyst are very optimistic of 2011, saying if the current trend is to continue the year is set for good fortunes for investors.
An economic analyst with a local asset management company, Blessing Sakupwanya said the current positive trend is due to improved liquidity on the market.
"If the current trend continues, it will not be surprising for the total market capitalisation to reach US$7 billion by year end," said Sakupwanya.
Foreign investors are flocking to the local bourse, on the back of improving macroeconomic stability, a development which has excited market watchers.
The industrial index fell from 161,63 points to close at 160.41 today.
Among today's shakers were Econet, which lost US5 cents to close at 495, Old Mutual, which shed 1,96 points to close trade at US150 cents and Meikles which eased a cent to settle at US53 cents.
The mining index that fell by 1,40 points to close at 204,72 last week recovered 0,14 points today.
It closed at 204,86.
Bindura lost US0,9 cents to trade at US10,1 cents while RioZim traded unchanged at US190 cents.
Despite this dip, ZSE has for the past week been experiencing a bullish trend and economic analyst are very optimistic of 2011, saying if the current trend is to continue the year is set for good fortunes for investors.
An economic analyst with a local asset management company, Blessing Sakupwanya said the current positive trend is due to improved liquidity on the market.
"If the current trend continues, it will not be surprising for the total market capitalisation to reach US$7 billion by year end," said Sakupwanya.
Foreign investors are flocking to the local bourse, on the back of improving macroeconomic stability, a development which has excited market watchers.
Source - Byo24News
