BY ETimes

The Zimbabwe Stock Exchange (ZSE) experienced a temporary delay in start of trading earlier on Wednesday making it the second time happening in as many days. After a delay in the opening, trading resumed at 09:45 hours and closed at 12:00 hours.

When the same situation happened late last month, the local bourse advised stakeholders that the delay in trading was a result of a technical glitch.

In November 2018, the Singapore based company Infotech, withdrew its services to fix the local bourse’s trading system, due to non-payment. According to media reports, Infotech required at least £143 000, to run the Automated Posts Trade Reporting System every year.

ZSE has been timeously paying Infotech for its services since 2015.

Meanwhile, the wider market All Share was up 3.58% to 11,519.56pts. Gains in majority heavyweight counters saw the Top Ten Index close with a 4.57% rise to 7,162.15pts and similarly the Top 15 was up 3.98% to 7,960.48pts.

Fintech giant Cassava, led the heavyweight risers, gaining 19.24% to ZWL$45.2526. Meikles added 13.78% to ZWL$163.5148. Beverage maker Delta was 4.07% to ZWL$158.6157 contributing the most in value traded at ZWL$84.05 million.

The Medium Cap Index was 1.55% higher to 22,886.68pts led by Dairibord’s 15.94% rise to ZWL$52.0000. Nampak rose 13.73% to ZWL$12.6045. Farming implements manufacturer Zimplow gained 12.83% to ZWL$24.8231.

FBC was the worst performer losing 5.97% to ZWL$30.0910. Proplastics fell 3.06% to ZWL$34.9000. Horticulture exported Ariston, which is trading under caution, was 2.40% lower to ZWL$3.6089. Hospitality group RTG eased 2.30% to ZWL$5.6600 and completed the top five losers set.

The Small Cap Index was up 3.79% to 341,442.97pts.

Other losses were recorded in penny stock Medtech, which is also trading under caution, as it lost 2.51% to ZWL$3.6089.

Turnover stood at ZWL$306.95 million after 6.45 million shares traded – Harare

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