ZSE: Investors cash in ahead of festive holidays

By ZBC reporter

A MAJOR sell-off by investors weighed down the Zimbabwe Stock Exchange as investors cash in ahead of the festive season.

The primary all share index dropped 0.51 points (0.22%) to end at 228.45 points. OK Zimbabwe (OKZ.zw) lost 7.6 cents to trade at 57.66 cents, Econet Wireless (ECO.zw) dropped 6.02 cents to close at 140.09 cents whilst CASSAVA SMARTECH ZIMBABWE LIMITED (CSZL.zw) traded 4.21 cents lower at 138.01 cents. SIMBISA BRANDS LIMITED (SIM.zw) eased 3.03 cents to trade at 125 cents and INNSCOR AFRICA (INN.zw) was 1.72 cents lower at 353.75 cents. Losses were offset by gains in OLD MUTUAL LIMITED (OMU.zw) which added 103.75 cents to trade at $37.2822, MEIKLES (MEIK.zw) advanced by 5.41 cents to close at 231 cents and SEEDCO INTERNATIONAL LIMITED traded 4.75 cents higher at 300 cents. Other counters to advance were TSL LIMITED (TSL.zw) which was up by 3.75 cents to trade at 75.75 cents and CBZ HOLDINGS LIMITED (CBZ.zw) gained 2 cents to close at 70 cents.

In regional and global markets, the FTSE 100 in EU was marginally up by 0.279% to 7561.06 points. The DJIA in the US went up by 0.23% to 28304.77 points with the S&P 500 up 0.17% to 3196.64 points. The NASDAQ rose by 0.27% to 8851.20 points.

In currencies, the local dollar averaged 16.619 to the US dollar, 21.744 to the British pound and 18.49 to the Euro. Against regional currencies, the local dollar traded 0.862 to the SA rand and 1.552 to the Botswana Pula.

In commodities, gold per ounce added 0.047% to $1479.40, platinum prices marginally rose by 0.24% to $937.90. Oil prices rose by 0.3% to $ 66.37 per barrel.