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.


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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