HARARE — The stock market continued on a downward path on Friday with the industrial index losing 0,37 points during the week to end at 188,77 points after weak performances in selected heavy weights, mainly Econet and Old Mutual.
Telecoms giant Econet lost 0,10 cents over the week to 77,90 cents, with a turnover of $2,5 million.
Total turnover for the week decreased by 21% to $5,1 million, with Econet, Dairibord and Delta contributing 80%.
AICO topped the week’s bulls, following a 0,19 cents rise to 0,70 cents. Cement manufacturer Lafarge was amongst the top losers, after dropping 14,99 cents to 50 cents.
During Friday’s trades, the benchmark index shed 0,36 points to 188,77 points.
The loss was on the back of negative trades in big cap Old Mutual which eased by 20 cents to 260 cents on thin trades.
Delta and Innscor traded flat at 125 cents and 69 cents respectively, while the rest of the heavy weights were inactive.
The value of trades for the day declined by 61% to $250 000 compared to the $645 000 recorded during Thursday’s trades.
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Zimre, the only mover for the day, gained 0,05 cents to 0,85 cents.
Ariston led the bears after shedding nearly 67% of its value, 0,40 cents to 0,60 cents.
On Friday, the resources index was flat at 81,76 points, following minimal trades in Bindura at an unchanged price of seven cents.
Week on week, the mining index dropped 5,41 points to 81,76 points, weighed down by a 0,60 cents loss in Bindura to seven cents. — The Source
