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    ZSE reverses 2-Day gain as WB keeps 2022 GDP outlook for Zimbabwe

    By ETimes

    Equities slightly declined in the midweek session as the mainstream ZSE All Share Index fell 0.09% but the loss was powerful enough to cancel the gains recorded in the session before.

    Market breadth was negative as 13 losers were reported compared to 11 gainers.

    The All Share Index dropped 20.94 points to close at 24,140.09 points. The Top 10 Index suffered the most, falling 0.53% to 15,744.30 points.

    CBZ, Meikles and Ecocash lost 4.11%, 3.63% and 2.80% to end at $115.00, $163.93 and $124.90 respectively.

    Gains were recorded in retail giant OK Zimbabwe, which added 10.11% to finish at $59.67.

    The Medium Cap Index gained the most, gaining 1.23% to close at 41,714.85 points.

    Construction firm Masimba led gainers, appreciating by 15% to close at $59.80. First Capital Bank garnered 7.61% to finish at $11.36. CFI climbed 7.50% to trade at $322.50. Property firm Mash Holdings completed the top 5, climbing up 4.76% to $4.40.

    Hotelier African Sun topped the losers’ chart, declining 7.92% to $20.25. Horticulture exporter Ariston fell to $4.09, losing 6.19% in the process.

    Market turnover declined from yesterday’s $1.25 billion to $490.05 million in 414 trades.
    The market capitalization stood at $3.01 trillion.

    On ETFs, the Datvest lost 4.50% to close at $2.0195 while the OM ZSE Top-10 eased 7.34% to finish at $11.1004. The Morgan & Co Multi-Sector recovered 4.17% to settle at $25.0000.

    Meanwhile, the World Bank’s latest Global Economic Prospects kept its 2022 GDP forecast for Zimbabwe unchanged at 3.7%. This comes on the back of expected reduced agriculture output due to adverse weather conditions – Harare

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