By ETimes

The Zimbabwe Stock Exchange (ZSE) on Thursday slipped further by $23.90 billion, extending its losing streak to 10 consecutive trading sessions.

Specifically, the market capitalization lost 23.90 billion or 0.92% to close at ($2.63 trillion) from $2.60 trillion recorded on Wednesday.

In the same vein, the mainstream ZSE All Share Index dropped 0.93% to close at 20,792.40 points compared with 20,986.91 points achieved in the previous session.

The market loss was driven by price depreciation in small and medium capitalised stocks.

Overall, a negative market breadth was registered as 18 counters traded in the negative against 8 risers.

Among the heavyweights, big losses were recorded in OK Zimbabwe and CBZ which eased 4.30% and 4.27% to finish at $38.05 and $110.00 respectively. This saw the Top 10 Index losing 1.06% to 13,351.99 points.

The Medium Cap Index was off 0.55% to 37,366.60 points. Brick maker Willdale fell 12.16% to $2.72. Mash Holdings followed, slumping 10.42% to $3.29. FMP dipped 5.85% to $6.98. Construction firm Masimba shed 5.26% to close at $60.00.

Bucking the trend were Ariston, Dairibord and StarAfrica which added 6.46%, 1.60% and 1.53% to end at $3.92, $53.00 and $1.99 in that order. FML was up 1.12% to $16.35.

Hotelier African Sun rose 0.18% to $14.00 after cautiously optimistic that hotel occupancy levels will maintain an upward trajectory, driven predominantly by the domestic market in the short to medium term.

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Clothing retailer Truworths dominated the gainers table, gaining 15% to $1.72.However, this was not enough to lift the Small Cap Index which suffered the most as it succumbed 1.60% to 506,238.45 points.

Conversely, Turnall led the loser’s chart, losing by 13.40% to close at $4.81.

Market turnover increased by 87.86% to $172.39 million. Transactions in the shares of Delta topped the activity chart with 286,800 shares valued at $88.73 million. Innscor followed with 66,400 shares worth $29.88 million while Simbisa traded 82,100 shares valued at $18.02 million.

On ETFs, Datvest Modified Consumer was down 2.64% to $2.0350 while the Old Mutual ZSE Top-10 lost 0.47% to $9.2019. However, the Morgan & Co Multi Sector was flat at $25.0000 – Harare

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