Home LOCAL NEWS CBZ drags ZSE shares lower in lacklustre session

CBZ drags ZSE shares lower in lacklustre session

HARARE – CBZ Holdings halted its winning streak on Thursday to drag equities lower in a subdued trading session.

Total trades were at 201 on turnover of $45.57 million after 7.98 million shares changed hands. Foreign participation remained skewed towards sellers at $12.74 million against buyers of $7.35 million. The market breadth was negative after decliners outpaced advancers by three.

Axia and ZB Financial Holdings led the turnover contributions at $10.29 million and $9.2 million respectively.

Bindura was the worst performer losing 11.74% to 322.14c and CBZ fell 11.18% to 3 900.44c as the All Share Index dropped 2.23% to 1 482.47 reducing its year to date gains to 544.30%.

The Top 10 Index fell 3.07% to 958.17 with other losses, albeit marginally, seen in Econet, which shed 1.80% to 427.60c and Cassava down 0.07% to 423.18c.

Ariston shed 6.02% to 125c and Axia dropped 5.52% to 353.51c to send the Medium Cap Index 0.84% lower to 3 001.10. The losses were restricted by gains in Dairibord, which was the best performer of the day, after adding 6.51% to 900c.

The stock is currently trading under caution pending a merger and acquisition transaction with Dendairy through the issuance of additional shares to accommodate Dendairy shareholders.

ZB put on a marginal 0.63% to 1 789.48c taking its year to date to 2 385.39%.

The Small Cap shed 0.33% to 6 122.67 after Truworths dropped 5.35% to 14.86c.

Source | Financial Express