…as stock market investors gain $1.36 trillion
By ETimes
The Zimbabwe Stock Exchange closed Thursday significantly higher with 15 advancing stocks and 2 decliners.
This comes as the local currency continues to lose value against the US dollar, forcing investors to seek a hedge and value preservation.
At the close of the session, the ZSE All Share Index gained 7.70% to close at 240,181.46 points. Consequently, market capitalisation increased by $1.36 trillion to close at $19.18 trillion. The upturn was impacted by gains recorded mostly in large-capitalised stocks.
The Top 10 Index gained the most, up 9.97% to end at 106,064.36 points. Delta went up 14.96% to $4,468.40. CBZ was 13.82% higher at $3,700.00. EcoCash added 11.13% to end at $224.66.
Meikles rose 10.88% to close at $1,637.97.
The Medium Cap Index gained 1.65% to finish at 959,257.12 points.
Starafrica topped the gainers table with 23.63% to settle at $9.90.
The Small Cap Index was flat at 5,483,703.77 points.
Thursday’s trading session ended with a total of 586 900 shares valued at $318.93 million that exchanged hands in 175 deals
Meanwhile, Ecobank Zimbabwe has been recognised as the best employer in the Zimbabwe Banks and Allied Workers Union (ZIBAWU) Annual Best Employers Awards.
The award only focuses on the three best and two worst banks for now.
“We recommend Ecobank Zimbabwe to anyone who wants to work in a good and safe environment. If it is good for workers, it must be good for clients too,” ZIBAWU said.
The second-best banking sector employer for 2023 was Stanbic Bank Zimbabwe.
ZIBAWU noted that Stanbic Bank has consistently maintained sound industrial relations based on mutual respect.
“It has an open door policy with the union and we engage and share views. We recommend it as a safe workplace,” it said.
CBZ Holdings claimed the third spot for best employer in the banking sector in 2023.
The largest employer in the industry has done better than many of the other employers, according to ZIBAWU.
“Although there is room for improvement in some areas, we appreciate how the bank has continued to protect jobs while improving remuneration to an extent,” it said.
“We recommend it to potential employees.”
ZB Holdings was named the 2023 Worst Employer in the Banking Sector as it failed in most respects in terms of industrial relations. Also, AFC Bank became the second-worst employer in the sector in 2023 – HARARE