zimbabwestockexchangelogo.jpgTrading on the Zimbabwe Stock Exchange (ZSE) has been in the negative for the past two weeks amid a series of poor results released by listed companies of late.

The mainstream Industrial Index fell by 2.74 percentage points in the week ending 16 March 2011, amid losses in heavy weight counters.

Investment analyst, Mr James Chiuta said over and above liquidity constraints that have been curtailing investors from buying shares, the market is reacting to unimpressive financial results for the interim released by companies.

Government has however taken steps to address the liquidity constraints by directing banks to repatriate funds banked offshore, in a move expected to reflect positively on the market.

An economist, Mr Takunda Mugaga said there are expectations that retail counters could perform better as they have benefited from the weakening of the South African rand to the US dollar through trade with South Africa.

Meanwhile, the mainstream Industrial Index continued on a downward trend easing 0.06 points to close at 138.61 points as COLCOM dropped a cent to 30 cents and FBCH lost 0.70 cents to trade at 6.30 cents.

AICO AFRICA retreated 0.10 cents to 18.90 cents.

The losses were countered by NATFOODS, which was 1.01 cents firmer at 106.01 cents.

T/A HLDS inched up a cent to 14 cents while MEIKLES gained 0.50 cents to close at 17 cents.

ASTRA and TN HLDS traded 0.10 cents higher at 3.60 cents and 4.10 cents respectively.

The Mining Index was steady at 85.45 points.

BINDURA, FALGOLD, HWANGE and RIOZIM, were unchanged at previous trading levels.