• Mon. Mar 4th, 2024

CBZ, Hippo and Tanganda lift ZSE amid foreign sell-off

ByETimes

Dec 11, 2023

By ETimes

Gains in CBZ, Hippo and Tanganda were enough to see the stock market close Thursday in the black as concerns over the country’s economic direction continue to push investors into stocks.

Market breadth was negative, as there were 9 laggards against 5 gainers.

The performance comes as black-market rates have started to rise, with quotes now past the 9000x mark, while there is limited success on all the main economic drivers.

Foreigners sold $124.06 million against buyers of $2.8 million.

The mainstream ZSE All Share Index went up 0.91% to close at 193,303.47 points.

The Top 10 gained the most, up 1.24% to close at 82,202.57 points.

Accordingly, the Medium Cap Index added 0.83% to close at 851,766.93 points.

The Small Cap Index was flat at 5,344,423.84 points.

In all, a total of 2.25 million shares valued at $2.36 billion were exchanged in 220 deals.

Transactions in the shares of Delta topped the activity chart with 361 600 shares valued at $1.26 billion. Proplastics followed with 1.51 million shares worth $917.54 million.

Market capitalisation increased by $129.88 billion to $15.37 trillion from $15.24 trillion.

CAFCA did not trade despite announcing the departure of its managing director, Rob Webster, who held that position for 17 years.

Old Mutual Top 10 ETF increased by $2.7427 closing at $34.4957, Morgan & Co Made Multisector ETF lost $6.1205 to $483.8795. Morgan & Co In Zim ETF, Datvest Modified Consumer Staples ETF, and Cass Saddle Agriculture ETF remained unchanged at $9.5000, $9.0000 and $7.5000 respectively.

Tigere REIT declined by $0.5934 to $299.4066.

On the VFEX, Padenga led the gains putting on 16.27% to US$0.1800. Simbisa put on 1.19% to US$0.3137. Innscor Africa Limited was 0.35% higher at US$0.4252 ahead of its AGM tomorrow.

SeedCo International added 0.09% to close at US$0.3200.

On the flip side, First Capital Bank lost 7.72% to finish at US$0.0191. BNC shed 0.87% to close at US$0.0113. African Sun plunged 0.79% to US$0.0500. Axia, completed the losers set, down 0.71% to US$0.0830.

By ETimes

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