• Tue. Jul 16th, 2024

Equities fall as election results trickle in


Aug 28, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) dropped on Friday as the recently completed harmonised elections in the country have drawn criticism from election observer missions.

The Southern African Development Community Electoral Observation Mission (SEOM) took a rare stance by indicating that the country’s election falls short of SADC standards.

“The subsequent information from Zimbabwe Electoral Commission that they did not have adequate ballot papers has the unfortunate effect of creating doubts about the credibility of this process,” head of the SADC observer mission Nevers Mumba said.

In the provinces of Harare and Bulawayo, there were delays in the opening of polling places, with some opening more than 12 hours later than scheduled owing to a lack of ballot paper.

Additionally, suggestions for enhancements were made, including topics like women’s participation, nomination costs, state-owned media coverage, access to the voter list, and purchasing voting materials in a transparent manner.

Accordingly, the ZSE All Share Index fell by a negligeable 0.02% to close at 121,130.97 points while market capitalisation declined by $4.28 billion to $9.61 trillion.

On the other hand, the Top 10 Index gained 0.35% to close at 57,391.87 points.

Market turnover increased by 322.42% to $2.71 billion.

Transactions in the shares of Delta topped the activity chart with 1.02 million shares worth $2.24 billion.

Datvest Modified Consumer Staples ETF retreated by $0.2200 to $5.6800 and Old Mutual ZSE Top 10 ETF added $0.0150 to $23.5099.

Cass Saddle Agriculture ETF, Morgan & Co Made In Zimbabwe ETF, Morgan & Co Multisector ETF all traded unchanged at $7.2500, $5.5000 and $170.0000 respectively.

Tigere REIT recovered $0.0436 to close at $204.8036 – Harare

By ETimes

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