• Fri. Apr 19th, 2024

Edgars shares tumble in its last day of trading on ZSE

By Stephen Chandisareva

HARARE – Sentiments on the local bourse remained positive on Wednesday as the gap between the official and parallel markets seems to be widening again despite the authorities’ best efforts to tame the gap.

The local unit dropped to $21 709 per dollar on the official market while reaching a low of $35 000x per US dollar on the black market. The freefall of the ZimDollar in the unofficial market has been exacerbated by money printing, according to market observers.

At the close of trade, the mainstream ZSE All Share Index gained 6.18% to close at 844,265.01 points.

Accordingly, investors gained $4.28 trillion in value as market capitalisation went up to $68.48 trillion from $64.2 trillion.

The Top 10 Index appreciated by 6.80% to end at 383,848.60 points. The Medium Cap Index was up 2.09% to settle at 3,108,166.78 points.

Shares of Edgars fell 2.79% to finish at $452.00 on the last day of trading on the ZSE.  This comes after shareholders approved the delisting of Edgars Stores Limited from the ZSE and subsequently listed it on VFEX.

“During the halt period, investors will not be able to buy or sell Edgars Stores Limited shares. Trading of the shares is expected to commence on VFEX on Monday, 08 April 2024 subject to SECZIM approval,” ZSE said in a statement.

Wednesday’s trading session saw shares valued at $3.44 billion being exchanged hands in 172 deals.

Morgan & Co Multi Sector ETF added $70.0000 to $885.0000. Datvest Modified Consumer Staples ETF added $0.8581 closing at $29.1667.

Morgan & Co Made In Zimbabwe lost $2.5753 to $17.4247.

Cass Saddle Agriculture ETF and Old Mutual Top 10 ETF remained flat at $9.0000 and $143.8405 respectively.

Revitus Property Opportunities remained flat at $559.9500 whilst Tigere Real Estate Investment Trust added $61.7563 to close at $917.0063.

By ETimes

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