ZSE turnover down 28% month-on-month

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ZIMBABWE Stock Exchange turnover for the month of October dropped to US$12,8 million from US$17,9 million recorded in the previous month on declining foreign participation, official figures have shown.

Latest figures obtained from the ZSE show that the value of shares that exchanged hands during the period under review has been on a downward spiral as bearish sentiments persisted on the local bourse. The benchmark industrial index declined to 130,83 points from 131,93 registered in previous month.

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Foreign participation which recorded a high of US$26 million in February this year, plummeted to US$6,3 million in October reflecting weak appetite on local stocks.

Meanwhile the industrial index opened the week lower at 130,76 weighed down by losses in Innscor.
Innscor, the second largest counter on the ZSE by market capitalisation lost 0,05% of its share price. Gains were seen in BAT which recovered US$0,05 to trade at us$11,85 and agro-industrial concern Ariston which inched up US$0,007 to settle at US$0,003.

The mining index was unchanged at 23,57.-Bernard Mpofu

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