The Zimbabwe Stock Exchange market capitalisation in April fell marginally by 1,17% from US$4,49 billion to US$4,44 billion, a stock-brokers report show.

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According to Inter Horizon (IH) securities monthly snapshot, the mainstream industrial index fell 1,24% to 156,26 points as blue chip companies lost ground. Econet fell 2%, Seedco, OK Zimbabwe and Barclays fell 7,77%, 16,67% and 11,11% respectively in the same month. The mining index plunged a further 2,28% in April on the back of losses in Falgold, Hwange and RioZim of 12,50%, 14,29% and 30,00% respectively.

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After losing 50,0% in the prior month, CFI went up 100%, Dawn increased by 100%, African Sun grew (86,67%). During the month, Unifreight went down by 50%, Star Africa tumbled 28,57%, Tobacco Sales Ltd fell 23,08% and Pretoria Portland Company dropped 22,94%.

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Other counters that gained during the period are Fidelity Life (84%), Zimplow (38,89%), Innscor Africa (7,29%) while Delta beverages remained unchanged.
\nOn monthly flows, activity picked up in April, with turnover increasing 112,4% month-on-month to US$38,52 million, while average daily trades of US$1,93 million were recorded in the month.

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The most significant contributions to total value traded were Dawn, Delta and Econet, contributing 48%, 19% and 10% respectively.
\nTotal volume traded went up 62,3% to 589,99 million shares.

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“We anticipate continued margin uplift supported by a recovery in the Fast Foods segment. — Staff