• Mon. Mar 4th, 2024

Equities fall as ‘fluid economic outlook’ weighs on sentiment

By ETimes

HARARE – Trading activities on the local bourse ended bearishly on Friday.
This comes amid a number of companies preferring not to declare dividends in the latest round of financial results, citing a “fluid economic outlook”.
As a result, the mainstream ZSE All Share Index fell 0.66% to close at 565,042.99 points.
Foreign exchange market issues have fueled hyperinflation, impacting asset prices and wealth creation.
Current stock prices are unsustainable due to speculation and investor interest, not strong earnings and economic performance.
A negative breadth was recorded as 18 losers emerged against 8 gainers on Friday.
Market capitalisation increased by 0.55% to $42.95 trillion.
The value of transactions declined 28.16% to $4.41 billion.
Delta ended the session as the most active stock, selling 245 000 shares worth $2.1 billion and was trailed by OK Zimbabwe, which exchanged 1.08 million shares valued at $975.51 million.
The Top 10 Index was up 0.67% to end at 256,423 points.

Morgan & Co Made In Zim ETF was 11.34% higher at $16.0000. Cass Saddle Agriculture ETF gained 8.82% to close at $8.4886. Datvest ETF added 0.04% to settle at $19.8501.
OML ETF plunged 3.53% to finish at $95.64.
Tigere REIT added 0.02% to close at $604.9969.
On the VFEX, SeedCo International jumped 15.03% to US$0.2755. First Capital Bank Limited appreciated by 4.26% to finish at US$0.0220.
Gold miner Caledonia stood at US$16.0000, losing 19.39% in the process. Padenga followed, slumping 0.70% to US$0.1406.
Simbisa depreciated by 0.49% to close at US$0.3600.
Innscor Africa Limited lost 0.48% to US$0.4475.
National Foods shed 0.16% to US$1.4801 while Axia eased 0.115 to US$0.0900.

By ETimes

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