• Mon. Apr 15th, 2024

Equities gain $369,92bn in midweek trade

ByEconomic Times

Jun 15, 2023

…as tobacco output reaches a record high

By ETimes

The ZSE All Share Index gained 2,84 percent to close at 185,349.94 points while market capitalisation increased by $369,92 billion to $15,28 trillion.

Today’s performance comes as the country produced the most tobacco in its 198-year history.

“The Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Honourable Dr. Anxious Jongwe Masuka, reported that the country’s tobacco output in the ongoing 2023 marketing season currently stands at 261 million kilogrammes, surpassing the previous record of 259 million kilogrammes,” reads part of the cabinet briefing report.

“This is on the backdrop of the fact that 85 percent of the tobacco is being produced by smallholder farmers, 60 percent of whom are beneficiaries of the Land Reform Programme, demonstrating that government policies in the agriculture sector are sound and continue to bear fruit.”

After gold, tobacco is the country’s second-largest source of foreign exchange earnings; the two biggest markets for the golden leaf are China and South Africa. The United Arab Emirates, Indonesia, and Belgium are some of Zimbabwe’s other major exporters of tobacco that has been flue-cured.

After gold, tobacco is the country’s second-largest source of foreign exchange earnings; the two biggest markets for the golden leaf are China and South Africa. The United Arab Emirates, Indonesia, and Belgium are some of Zimbabwe’s other major exporters of tobacco that has been flue-cured.

At the close of business transactions, the ZSE Top 10 Index appreciated by 2,52 percent to 114,023.47 points. The Medium Cap Index gained 4,01 percent to 333,434.86 points.

Turnover declined 72,12 percent to $2,6 billion. NMB led on value traded at $1,18 billion, while Nampak had the most volume at 9,99 million shares.

Morgan & Co Multi Sector ETF was up 14,49 percent to close at $158,000. OML ETF added 14,36 percent to end at $45,9839.

Cass Saddle Agriculture ETF appreciated by 5,84 percent to close at $4,5500. The Datvest ETF gained 5,60 percent to close at $11,5000.

Morgan & Co Made In Zim ETF was flat at $5,8300.

Tigere REIT was up 14,83 percent to $301,558 – Harare

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