The Zimbabwe Stock Exchange (ZSE) turned bearish despite expected market recovery on almost clear economic uncertainty and the fundamental assumption of investors rewarding companies for impressive financial records.
At the close of Tuesday’s session, the mainstream ZSE All Share Index dipped 0.55% to close at 21,166.03 points. Market breadth, a signal of investors’ sentiment towards trade, closed negative, recording 23 losers as against 6 gainers.
Again, CBZ recorded the highest price gain of 13.99% to close at $186.88. This saw the Top 10 Index rise 0.13% to finish at 13,294.98 points.
Unfortunately, Meikles topped the losers’ set with 13.98% to settle at $136.77.
The Medium Cap Index suffered the most, falling 2.26% to 40,334.01 points.Hotelier African Sun lost 12.68% to $15.72. SeedCo was down 7.83% to $180.03. Axia and FML eased 5.06% and 4% to close at $125.71 and $24.00 respectively.
Conversely, Edgars, Nampak and Zimplow added 2%, 0.67% and 0.48% to close at $5.10, $15.00 and $24.66 in that order.
The Small Cap Index recovered 0.36% to settle at 510,794.31 points on GB Holdings, which gained 0.60% to $1.29.
Overall, a total of 6.13 million shares valued at $778.14 million were traded by investors. OK Zimbabwe, however, was the hottest stock in volume terms, as 1.8 million shares were traded in deals worth $69.36 million.
Investor’s wealth on the local bourse declined 0.56% to $2.67 trillion.
On ETFs, the OM ZSE Top-10, Datvest and Morgan & Co Multi-Sector lost 9.70%, 3.74% and 1.73% to close at $9.4645, $1.9207 and $28.2500. However, the Made in Zimbabwe ETF gained 1.27% to finish at $1.2500 – Harare