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Econet, EcoCash gains sees ZSE close Thursday in positive territory

ByEconomic Times

Feb 10, 2023

By ETimes

Gains in Econet and EcoCash saw Zimbabwe Stock Exchange shares close Thursday’s session in positive territory.

Accordingly, the mainstream ZSE All Share Index gained 3.33% to end at 29,631.00 points, while market capitalisation increased by $124.95 billion to $3.24 trillion.

Market breadth closed positively, with advancing issues outnumbering declining ones. On the performance board, Econet led 21 others on the gainer’s table, having appreciated by 15% to close at $218.55. EcoCash followed with a gain of 14.89% to close at $70.56. This saw the Top 10 Index rise the most, by 3.83%, to close at 18,844.57 points.

Meikles and CBZ appeared on the losers’ table with a loss of 3.66% and 0.56% to end at $173.25 and $145.00, respectively.

Hotelier African Sun continued with an upward share price movement, up 14.36% to finish at $48.03. FMP and Afdis added 13.09% and 8.36% to settle at $16.96 and $282.02, respectively. The Medium Cap Index gained 1.98% to close at 55,373.79 points.

Losses were recorded in Mash Holdings and Tanganda, which eased 11.85% and 0.64% to end at $7.09 and $183.18, respectively.

Bridgefort Capital topped 8 others on the laggard’s log with a 13.04% dip in its share value to close at $8.00. As a result, the Small Cap Index lost 0.11% to close at 511,401.70 points.

Analysis of market activities for the day under review showed trade turnover settled higher relative to the previous session, with the value of transactions down by 126.37%.

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A total of 16.22 million shares valued at $4.03 billion were exchanged in 414 deals.

Transactions in the shares of Delta topped the activity chart with 2.74 million shares valued at $1.78 billion.

Innscor traded 931,000 shares worth $758.84 million.

The Old Mutual ZSE TOP 10 added $0.0007 to $8.3334, while the Datvest Modified Consumer Staples ETF added $0.0065 to $1.5745. Also, the Morgan & Co Made In Zimbabwe ETF increased by $0.0092 to close at $1.3000.

Cass Saddle Agriculture ETF traded unchanged at $2.2500 and Morgan & Co Multi Sector ETF remained flat at $25.0000 – Harare

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