The Sunday News
AGRO-processing companies are likely to be hit hard as the prospects of a good harvest are diminishing due to increased dry conditions that have affected farming.
Most areas across the country are facing a drought due to lack of rains caused by the El Nino phenomenon.
This has dampened prospects for those companies whose inputs are directly or indirectly linked to agriculture. It also means most of them will have to import the inputs.
Meanwhile, the Industrial index shed 1.26 points (1,13 percent) to close the week on Friday at 109.88 points as two counters lost ground.
Delta slumped $0,0270 to close at $0,6405 and Fidelity Life eased $0,0025 to $0,0975. No counter traded in the positive territory as heavyweights BAT, Innscor and SeedCo were unchanged at $12,2000, $0,2400 and $0,8375 respectively. The
Industrial index dropped 2.28 points (2,03 percent) compared to week ending 8 January 2016.
The Mining index was unchanged at 21.74 points.
Bindura, Falgold, Hwange and RioZim maintained previous price levels at $0,0128, $0,0050, $0,0300 and $0,1040 respectively.
The Mining index was down 1.74 points (7,41 percent) compared to week ending 8 January 2016.
