Published: 28 August 2013

ZSE shares see-sawed back into the red on Wednesday with just one counter trading in the positive as heavyweight counters Delta and Econet continued to weaken.

The Industrials Index lost 1.21 points or 0.66% to close at 182.59 while the Minings Index eased 0.71 points or 1.47% to cloaw at 47.43 due to RioZim's which was offered lower at 30c. Bindura was bid higher at 1.95c whilst Falgold and Hwange were unchanged.

Total market turnover closed below the psychological $1 million at $807 161 on a volume of 5.647 million shares compared with yesterday's $2.697 million on a volume of 5.339 million shares.

Delta remained weak after losing another 1c to 110c and trimming its market cap to $1.350 billion while the share price is now 29.94% down from its all-time high of 157c.

Telecoms counter Econet eased another 0.52c to 48.98c trimming its gains in the year to just 8.8%. Conglomerate Innscor eased 4c to 82c ahead of the release of its June finals next Wednesday. Retail counter OK Zimbabwe was also a modest 0.01 c weaker at 22c.

The only counter to trade in the positive was Barclays which snapped its losing streak and recovered 0.20c to 3.5c.

The Datvest All Share Index was 0.98 points or 0.80% weaker at 121.72 while the FBC ZSE-10 Index was 1.38 points or 1.10% lower at 124.16.

Other notable sectors to close in the red on the Zfh board were the Conglomerates Index which lost 2.42 points or 3.27% to 71.56 while the Insurance was 3.05 points or 2.51% weaker at 118.32.

Barclays helped the Allied Bank Banking Index to close in the positive after adding 0.80 points or 1.07% to 75.65. 
- zfn

You might also want to read this

• Stocks back in negative territory on Simbisa, Innscor
• ZSE falls as RBZ readies corporate OMO Bills to mop up excess liquidity
• Market breadth turns negative as ZSE falls further
• ZSE stocks incredibly cheap, says Imara
• ZSE closes lower on heavyweight losses
• ZSE to introduce ETFs this quarter
• Mid-tier stocks drive ZSE to a marginal gain
• Sell the laggards, buy disruptors
• ZSE loses 0.03% while mid-caps continue to rally
• ZSE stocks recover by 40%