Zim bourse drops to 2012 levels

Harare - The Zimbabwean stock market this week dropped to levels last seen in 2012 as the country’s economic situation continues to worsen.

By the close of trading on Friday, the Zimbabwe Stock Exchange’s (ZSE's) main industrials index had dropped below the 150 points mark.

The last time the market traded below the 150 point mark was in December 2012 towards the end of the Government of National Unity.

By the close of this week. the market had lost 2.69% to close at 148.79 points, a level slightly below the 149.79 point level as at December 27 2012.9.79

Analysts said the market’s turn out is to be expected, considering the dire conomic environment.

“We expect the market to continue trading sideways with those willing to invest into ZSE listed stocks looking at doing so at much lower prices than the prevailing ones.

Recent results released by ZSE listed stocks showed significant strain with most companies reporting reduced revenues at best and losses at worst.