Stocks tumble further, less than half shares trade


Zimbabwe Stocks opened the week weaker yesterday with only 36 out of 76 counters trading mostly within very thin margins of less than a cent.
Liquidity challenges, jitters over the direction of economic policy and a somber political outlook continue to keep investors out of the market.
As a result, mutual funds and free agents are still good friends with risk aversion.
The industrial index slumped 0,53% to 126,62 points as only one counter – Interfresh – advanced into the grey. Eight counters retreated.
The mining index however remained flat 139.56 points after all resource counters traded unchanged.
A total of 109 trades worth slightly over $1 million were recorded.
The largest volumes came from CFX, Dawn Properties, PG Industries, NMB Bank and Zimre Holdings.
The market continues to feel and respond to the political pulse than to economic fundamentals and its ability to stage a comeback is overly weak.
Losses are therefore expected to dominate trading through to Friday, with only modest intra-week gains.