The ZSE Monitor: FML among top movers, as Nicoz trade flat

The ZSE Monitor: FML among top movers, as Nicoz trade flat

HARARE, First Mutual Holdings Limited is among today’s top movers on the Zimbabwe Stock Exchange (ZSE) after adding $0.0020 to trade at $0.1140. Among the insurance companies, Nicoz Diamond also traded flat on $0.03 cents with 25 000 shares changing hands in a Monday session where no counter traded in the negative.

Old Mutual, Fidelity and Zimre Holdings remained flat on their previous prices. The Insurance regulator, IPEC recently indicated that almost 70% of ZSE stocks is funded by insurance companies and pension funds as institutional investors and these are probably the strongest local investors.

IPEC said the insurance and pensions industry had total assets of $5.4 bln as at March 2017, the bulky of which is invested in capital markets. The insurance sector alone had an asset base of $2.1 bln for the period.

Of the Financial services group companies with insurance units, Econet which house Ecosure was among the top movers after inching up $0.0002 to settle at $0.3702.

FBC Holdings traded flat at $0.1355 with 1 220 shares changing owners.  CBZ Holdings, Getbucks and ZB did not trade.

Meanwhile, the Industrial Index continued in the positive trend as it gained 0.21% to settle at 200.46 points. CFI ( advanced by $0.0620 to close at $0.3725.

MEIKLES ( rose by $0.0160 to $0.2160. Other movers were in NMBZ ( which increased by $0.0005 to $0.0405.

While no counter traded in the negative territory, AXIA (, FBC HOLDINGS (, INNSCOR (, OK ZIMBABWE ( and STARAFRICACORPORATION ( traded unchanged at $0.1200, $0.1355, $0.7250, $0.1010 and $0.0120 respectively.

The Mining index was flat at 69.00 points. BINDURA (, FALGOLD (, HWANGE ( and RIOZIM ( remained unchanged at previous trading levels at $0.0290, $0.0100, $0.0250 and $0.5500 respectively.