• Tue. Jul 16th, 2024

Bullish run continues as equities market rises by $344.72bn

ByEconomic Times

May 18, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) advanced by $344.72 billion as investors continued to digit a flurry of first quarter corporate earnings released on the local bourse as well as looking for a home to hedge their money from the inflationary pressures in the market.

Analysts say stocks are likely to trade at their highest levels this year due to price adjustments due to inflation.

Investor sentiment remained positive at the stock exchange today, as there were 23 price gainers and 3 price losers, indicating a positive market breadth.

The ZSE All Share Index gained 5,32 percent to close at 78,898.82 points, while market capitalisation increased by $344.72 billion to close at $6.74 trillion.

Dairibord led the gainers, appreciating by 15 percent apiece to close at $213.90. Truworths jumped 15 percent to settle at $5,06. FML went up 15 percent to $28,75. SeedCo Limited rose to $391,20, notching up 14,99 percent in the process. OK Zimbabwe added 14,83 percent to end trade at $140,49.

Cigarette maker BAT was the worst performing stock, declining by 7,48 percent to close at $5,417.50. CFI shed 6,53 percent to close at $705,91. Mash Holdings fell to $22,00 losing 0,25 percent.

Morgan & Co Multi Sector ETF gained 13,38 percent to close at $41,5000. Morgan & Co Made In Zim ETF was 11,71 percent higher to finish at $2,8007.

OML ETF added 5,09 percent to end at $14,9885. The Datvest ETF gained 0,96 percent to close at $4,8035. Cass Saddle Agriculture ETF was flat at $2,8000.

Tigere REIT was up 14,92 percent to $66,8253.

On the VFEX, Axia was up 0.22% to close at US$0.0902, while Simbisa added 0.02% to end at US$0.4001. In the negative was African Sun, which shed 0.50% to close at US$0.0782 – Harare

Leave a Reply

Your email address will not be published. Required fields are marked *