The Sunday News
THE Zimbabwe Stock Exchange resources indicator, the Mining Index, has defied the selling pressure that characterised recent market activity on the bourse after rising for the third consecutive week sustained by gains in its three active counters. While the other key indicators, the ZSE All Share Index, ZSE Top 10 Index and Industrial Index succumbed to losses week on week, the resources index remained in the positive.
Experts say while the economic environment remains turbulent, mining stocks will remain in good standing on their ability to export and generate foreign currency.
This also extends to other mining firms not listed on the ZSE, for instance, the country’s largest platinum producer — Zimplats as well as Unki.
ALL SHARE
The All Share index ended the week on a lower note, dropping 1.87 points 0,81 percent ending at 229.80 points. Old Mutual Limited lost $0,5606 to end at $33,0033 while Cassava Smartech was $0,0989 lower at $1,4798 and Econet Wireless also decreased by $0,0288 to end at $1,7050. Other counters to lose ground were Art Corporation and NMB Bank which both traded $0,0140 weaker at $0,1260 and $0,3586 respectively.
Trading in the positive: OK Zimbabwe Limited added $0,0480 to $0,7000, Meikles rose by $0,0443 to $1,6500 and Ariston traded $0,0249 higher at $0,1505. Padenga Holdings also gained $0,0076 to $2,8974 and Innscor Africa was $0,0026 firmer at $2,8226.
