zim_stock.jpgTrading on the Zimbabwe Stock Exchange has remained subdued despite the festive season fever which had been expected to boost the share values for most counters in the retail, hotel and financial sectors.

 

The country’s main bourse has failed to positively respond to the seasonal festive season spending, with shares of most listed counters continuing to trade in the negative.

 

Shares for retail, hotel and financial counters continue to record losses as investors have remained cautious. Shares for retail concern OK Zimbabwe are still hovering around 7 cents each while clothing counters such as Truworths and Edgars closed the week at 3.2 cents and 6 cents respectively.

 

Economic analyst, Mr Christopher Mugaga, believes the stock market has failed to positively respond to the festive demand due to the market sentiment where investors are still cautious about investing on the local bourse as well as the current liquidity constraints.

 

Meanwhile, the industrial index ended the week slightly higher at 148.37 points after adding 0.39 points (0.26%). Lafarge pushed up 2 cents to trade at 93 cents whilst Colcom and Edgars added a cent to close at 49 cents and 6 cents respectively.

 

Nicoz Diamond and OK Zimbabwe moved up 0.15 cents each to close at 2 cents and 7.15 cents. Counters in the negative territory comprised of CFI which shed 0.50 cents to 15.50 cents as Ariston dropped 0.20 cents to close at 1.30 cents.

 

Despite Friday’s gain, the industrial index retreated 0.83 points (0.56%) compared to the week ending 10 December 2010.