Business / Companies
ZSE shares sink in post election market bloodbath
05 Aug 2013 at 10:55hrs | Views
ZSE's Industrials plunged 11.09% on Monday as panicked investors flee the bourse in post election market bloodbath that saw the heaviest sell-off since dolarisation.
The Industrials Index dropped 25.64 points or 11.09% to 205.57 trimming its gains in the year to just 34.89% while the Minings Index was 1.33 points or 2.01 % weaker at 65.00.
Blue chip counter Delta dropped a significant 30c or 20% to 120c and closed sellers at 135c with no buyers in sight.
Telecoms giant Econet was 10c or 14.71% weaker at 58c with buyers looking at 50c while Hippo dropped 5c to 100c.
Conglomerate Innscor traded 15c or 14.29% weaker at 90c whilst another blue-chip OK Zimbabwe eased 4c or 13.33% to 26c.
Daily market turnover eased to $784 262 on a volume of 5.050 million shares against last Friday's $900 935 on a volume of 7.154 million shares.
There were just 2 risers across the board with ZHL adding 0.20c or 16.67% to 1.4c while dual listed Old Mutual which gained a marginal 0.02c or 0.01% to 242.02c.
The top loser on the market was retail counter Edgars, shedding 4c or 28.57% to 10c while African Sun eased 0.50c or25% to 1.5c.
Star Africa and ZPI dropped 0.20c or 16.67% each to 1c each and Truworths traded 0.60c or 16.67% weaker at 3c.
Other notable fallers, Mash traded 0.40c or 11.76% weaker at 3c while Pelhams eased 0.01c or 9.09% to 0.1c. Pearl Properties dropped 0.22c or 7.41% to 2.75c. Hippo eased 5c to 100c and Astra was 0.10c or 1.64% weaker at 6c.
Phoenix closed buyers only at 0.3c amid reports that the company is mulling selling one of its units to reduce borrowings and has been approached regarding the potential purchase of one of its operating units and the transaction could reduce borrowings by up to $2 million.
The Datvest All Share Index dropped 16.57 points or 10.71% to 138.14 while the heavyweight's measure, the FBC ZSE-10 Index was 21.67 points or 13.51% lower at 138.73.
The Industrials Index dropped 25.64 points or 11.09% to 205.57 trimming its gains in the year to just 34.89% while the Minings Index was 1.33 points or 2.01 % weaker at 65.00.
Blue chip counter Delta dropped a significant 30c or 20% to 120c and closed sellers at 135c with no buyers in sight.
Telecoms giant Econet was 10c or 14.71% weaker at 58c with buyers looking at 50c while Hippo dropped 5c to 100c.
Conglomerate Innscor traded 15c or 14.29% weaker at 90c whilst another blue-chip OK Zimbabwe eased 4c or 13.33% to 26c.
Daily market turnover eased to $784 262 on a volume of 5.050 million shares against last Friday's $900 935 on a volume of 7.154 million shares.
The top loser on the market was retail counter Edgars, shedding 4c or 28.57% to 10c while African Sun eased 0.50c or25% to 1.5c.
Star Africa and ZPI dropped 0.20c or 16.67% each to 1c each and Truworths traded 0.60c or 16.67% weaker at 3c.
Other notable fallers, Mash traded 0.40c or 11.76% weaker at 3c while Pelhams eased 0.01c or 9.09% to 0.1c. Pearl Properties dropped 0.22c or 7.41% to 2.75c. Hippo eased 5c to 100c and Astra was 0.10c or 1.64% weaker at 6c.
Phoenix closed buyers only at 0.3c amid reports that the company is mulling selling one of its units to reduce borrowings and has been approached regarding the potential purchase of one of its operating units and the transaction could reduce borrowings by up to $2 million.
The Datvest All Share Index dropped 16.57 points or 10.71% to 138.14 while the heavyweight's measure, the FBC ZSE-10 Index was 21.67 points or 13.51% lower at 138.73.
Source - zfn
