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    All Share Index loses 0.83% in midweek session

    By ETimes

    The stock market fell for a seventh straight day Wednesday as the country battles with growing uncertainty on the future of the economy as a number of issues continue to weigh.

    The local currency left this week’s foreign currency auction held on the 22th of June 2022, $13.57 weaker against the greenback than its value held at last week’s auction. This week a single unit of the United States currency will trade for $352.06 whilst last week’s auction on the 14th of June 2022 saw it trade for $338.49 following another depreciation.

    Market watchers say what is needed is a balanced and honest appraisal of the current situation followed up with solid and grounded solutions.

    At the close of the trading session, the ZSE All Share Index let go 0.83% to close at 22,044.22 points.

    Topping the losers set was Hippo which gave up 14.99% to close at $281.80. This saw the Top 10 Index losing 0.90% to finish at 14,005.83 points.

    On the other hand, CBZ gained 1.21% to end at $125.00.

    The Medium Cap Index was off 0.61% to close at 40,871.33 points. Willdale, NMB and Mash Holdings lost 6.96%, 6.67% and 6.20% to finish at $3.16, $28.00 and $6.56 respectively.

    FMP recorded the highest price gain of 14.08% to close at $10.89. FML followed with a gain of 7.90% to close at $28.00. Hotelier African Sun added 5.47% to close at $19.52. ZHL was 4.83% higher to $5.87.

    The Small Cap Index suffered the most as it succumbed 2.41% to close at 488,221.51 points. Media group Zimpapers was down 13.04% to end at $5.00.

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    Market turnover rose 9.92% to $287.67 million. But market capitalization declined 0.72% to $2.78 trillion.

    On the ETFs, OM ZSE Top-10, Datvest ETF and Morgan & Co Multi-Sector lost 0.66%, 0.13% and 0.17% to close at $9.8159, $2.0971 and $26.0000 in that order. The Made in Zimbabwe ETF was the only gainer with 0.04% to close at $1.1705 – Harare

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