ZSE opens March on thin trades, as Insurers appetite remain low

ZSE opens March on thin trades, as Insurers appetite remain low

By Insurance24

HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) opened the month of March characterized by thin trades. Insurer Old Mutual gained 0.281% to close at 535c and was the only insurer to trade in the opening day of March.

Other insurers ZHL, Fidelity, FMHL and Nicozdiamond remained stuck at their previous prices with no trades.

Turnover was at $732,000 with trades well spread across the bourse. Market capitalization was at $8.37 bln. The All Share Index was in the red, dropping 0.17 points on the back of losses across the market.

The Industrial Index retreated 0.56 points and the Top Ten Index followed with a 0.22 points loss as selling continued to dominate amid limited buying.  The Mining Index was flat with no activity in the subsector.

Three counters lost ground. Simbisa led the losers with a $0.0100 loss to close at $0.3900, Econet shed $0.0073 to $0.6800 while Axia was down by $0.0050 to end at $0.1750.

Trading in the positive; Old Mutual added $0.0149 to close at $5.3249 and Meikles rose by $0.0050 to $0.3050 whilst Padenga closed at $0.4398 following a $0.0023 increase.

PPC went up by $0.0019 to close at $0.8725, Proplastics put on $0.0010 to trade at $0.0730 while Barclays inched up $0.0002 to end at $0.0432.