ZSE remains bearish.

The Zimbabwe Stock Exchange (ZSE) continued on its downward trend with the key industrial index closing the week 0.96% lower to settle at 157.77 points.

Resources followed suit as the mining index shed 1.27% to close at 206.11 points.

The bourse has been bearish for a week after rallying for a few days following the resumption of duty by Prime Minister Morgan Tsvangirai.

"The stock market is bearish because of poor liquidity on the market. The market will remain depressed... unless liquidity improves," said Blessing Sakupwanya a financial analyst.

PPC, also listed on the JSE, continued on its losing streak falling 15c to trade at US260c.

The cement manufacturer opened the week shedding 10c to the day at US270c on Monday.

Sugar producer Hippo was 4c softer at 110c and TA Holdings lost 2.10c to close at 63.90c. Fast food outlets owner Innscor went down 2c to close at 63c.

Among the gainers were Chemco firming 5c to 60c, Colcom up 3.60c to 25.60c and Radar advancing one cent to settle at 19c.

Beverages manufacturer Delta Corporation, in which South African brewer SABMiller holds 38% stake firmed 0.50c to trade 50.50c.

SABMiller in June this year invested $12m in Delta raising its stake by 2.5% to the 38%.

Delta announced the disposal of its 41% stake in horticultural concern Ariston to a Luxemburg based agro company called Africa Land Fund for US$4m.

Among the resources counters coal producer Hwange dropped 3c, nickel producer Bindura Nickel Corporation (BNC) retreated to 23c.

Gold producer RioZim traded unchanged despite the surge in the commodity's price.

*Roadwin is Moneyweb's Zimbabwean correspondent

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Zimbabwe has a stock exchange?? As an 8-year old I played marbles with mates and we exchanged goons and rainbows. As kids we were excited and thought this was the real thing. My excuse is that we were kids. What is zimbabwe's excuse for thinking its stock exchange . .more is anything more than a kiddie's game? . .less by Plutarch on November 20 2009, 20:07 Find this comment inappropriate? Report it

Zimbabwe In a few years time, many millionaires will be made from investments in the Zimbabwean stock exchange. I think Its worth the risk to invest in some Stable companies there. I feel the political and economical conditions will improve. by Entrepreneur on November 21 2009, 11:04 Find this comment inappropriate? Report it

Zim Too much corruption. Bob and his wife are corrupt. Everyone below them are corrupt. Prosperity and corruption doesn't mix. So while bob is in power (or any of the idiots below him), investing in Zim is a very stupid idea. by Bok on November 21 2009, 11:36 Find this comment inappropriate? Report it

Zim stocks I also have confidence that things will stabilise and shareholders would get a return on their investment in Zim,lets give them a chance guys by Greg on November 21 2009, 12:24 Find this comment inappropriate? Report it

I suppose the bet is that Mugabe dies; but are there not a few million other Mugabelike thugs in th... Why would the thugs who control Africa change their policies in Africa? It does not seem to follow that when Bob does die that they will adopt democracy or a fair and reasonable government. Where else in Africa has this happened? The Malema . .more governmet in SA is already adopting the same Zimbabwe way of "destroy & break & nationalise & divide & get the whites out & close down the farms the mines the electricity the jobs the housing programs the police the justice system; whatever it takes to promote wealth via corruption for the few in power - everything that is good for the masses must go. That is Africa? Yes a resounding yes so far in history. Funny people these and the voters vote themselves into poverty crime murder aids corruption etc. Amazing people indeed. . .less by BEE on November 22 2009, 12:23 Find this comment inappropriate? Report it

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