• Tue. Apr 23rd, 2024

Equities add $6.01bn, reverses previous day loss

ByEconomic Times

Dec 8, 2022

By ETimes

The Zimbabwe Stock Exchange recovered previous day losses, on Wednesday, as the mainstream index rose by 0.33% to close at 14,826.95 points.

This comes as high demand for the US dollar on the market has jumpstarted rate movement. At the latest foreign currency auction, the Zimbabwe dollar lost 1.02% to trade at $661.56 against the greenback this week. On the parallel market, one US dollar can sell for $870x.

Equities investors on the local bourse, therefore, earned $6.01 billion as the market capitalisation closed at $1.63 trillion.

As measured by market breadth, market sentiment was positive, as 11 stocks gained relative to 7 losers.

The Top 10 Index was off 0.04% to close at 8,653.44 points. On the flip side, Hippo and Ecocash fell 0.47% and 0.35% to close at $199.00 and $35.8426, respectively.

None of the heavyweight stocks appeared on the gainers table, which was led by Nampak, up 9.43% to end at $8.00. Mash Holdings went up 7.21% to close at $75.05. First Capital Bank rose to $10.55, notching up 5.71%. Axia gained 4.52% to close at $67.09. Proplastics completed the top 5, climbing by 4% to finish at $26.00.

The Medium Cap Index recovered 0.87% to close at 33,366.21 points.

OK Zimbabwe was the day’s biggest price loser, falling 2.33% to close at $28.25. Afdis followed with 1.24% to close at $261.66. SeedCo dropped 0.46% to settle at $75.00.

The Small Cap Index was flat at 465,222.73 points.

Market turnover declined 10.08% to close at $241.88 million. Econet was the toast of investors during the day, exchanging 1.02 million shares valued at $76.56 million, Delta followed with an account of 277,600 shares worth $69.77 million.

OML ETF gained 0.84% to close at $6.0000. On the other hand, the Datvest ETF fell 2.40% to end at $1.6400, while the Morgan & Co Made In Zimbabwe ETF eased 0.62% to close at $1.3800.

Tigere REIT gained 1.55% to close at $34.0724.

There was bloodshed on the VFEX. NedBank Zim Depository Receipts, Simbisa and SeedCo International lost 13.27%, 0.35% and 0.20% to end at US$11.5000, US$0.3395 and US$0.3390-HARARE

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