ZSE turnover closes at $1.94 mln as appetite for Insurers remain low
By Insurance24
HARARE, Trading activity on the Zimbabwe Stock Exchange (ZSE) improved on Tuesday largely on decent trades in Econet, NMBZ and Seedco. NMBZ saw a total 2.7 mln shares exchanging hands at 11c.
The Group recorded an after tax profit of $9.93 mln in 2017 compared to an after tax profit of $5.05 mln in 2016 according to its recently published financials. The Bank is also looking at introducing new insurance products into the market to consolidate the growth achieved since introduction of insurance services into the group’s operations 5 years ago.
Econet gained 2c to trade at 72c. Volume of shares moved was 1.384 mln. Seed Company Seedco was flat at 195c.
Turnover closed at $1.94 mln. The All Share Index remained on the front foot, adding a marginal 0.60 points on the back of gains in Econet, Delta, Innscor and Seedco.
Delta went up by $0.0194 to end at $1.6251. Axia rose by $0.0100 to $0.2100 while Innscor was $0.0025 higher at $0.9700.
There were no trades in the negative territory whilst heavyweights Hippo, Natfoods and Seedco traded unchanged at $1.6800, $5.4000, and $1.9500 in that order.
The Industrial Index edged up 2 points to close at 2.95 and the Top Ten Index closed 0.68 points in the positive. The Mining Index was flat with no activity in the subsector. Demand remained decent mainly in the blue chip category amid limited selling.
On insurers, Old Mutual gained 3c to trade at 565c albeit on limited share activity after only 4,569 shares traded. The other insurers, ZHL, Fidelity, FMHL and Nicozdiamond did not trade.
