Volume on the Zimbabwe Stock Exchange recovered further yesterday to hit a staggering 12,3 million shares as daily turnover jumped to US$4 million from under a million. However, this did not stop the main industrial index from drifting southwards, sliding 1,17 or 0,64 percent to 182,64 points. The mining index slipped 2,66 points (3,56 percent) to close at 72,01 points. Bindura fell US0,30 cents to close at US2,50 cents. Falgold, Hwange and RioZim were unchanged at previous trading levels. The industrial index was weighed down by losses in Delta, AICO, Edgars and Colcom.
Delta shed US4 cents to trade at US110 cents, Colcom was down US1,40 cents to US25 cents and Edgars lost US0,60 cents to US11 cents. AICO Africa was US0,50 cents weaker at US8 cents.
Gains were in BAT up US25 cents to US725,01 cents, TSL rose by a cent to US18,50 cents, CBZ which posted US$45 million after tax profit gained US0,90 cents to trade at US13,26 cents and Astra added US0,60 cents to US5,70 cents. PGI rose US0,30 cents to trade at US0,50 cents. About four million shares were bought in foreign deals while just over US$2,9 million was turned over during trading.
The 2,9 million shares were sold in foreign deals with turnover from the transactions amounting to just over 2 million during trading, which showed an improvement in local investor participation.
The ZSE, which had been drifting Southward since Monday, started recovering during Wednesday's trading reaching almost 10 million as revenue also totalled US$1,5 million. However, the increasing volumes and value could not stop the industrial index from ending the day in a loss position.
Just over 1,1 million shares were traded on the day with turnover amounting to just US$484 000 as the main industrial index opened weaker dropping 0,44 points (0,24 percent) to close at 185,37 points weighed down by losses in Delta, Lifestyle, RTG and starafrica.
The volume of shares traded on Tuesday stood at 2,3 million while turnover totalled US$467 000 during trading dominated by foreign investors.