• Mon. Mar 4th, 2024

Equities slide for third straight day

ByEconomic Times

Sep 9, 2022

By ETimes

For the third consecutive session, the local bourse maintained the downward trend as the ZSE All Share Index closed 0.46% weaker to close at 13,184.23 on Thursday.

Market sentiment, as measured by the market breadth, closed negative with 16 stocks compared with 9 gainers.

The Top 10 Index gained 0.11% to 7,783.69 points on Hippo, which climbed 14.29% to finish at $240.00. Partially offsetting the gains was Axia which eased 6.01% to $46.03.

Cigarette manufacturer BAT, which recorded a net loss attributed to shareholders for the half year ended 30 June 2022 was $678.6 million relative to a net profit of $1.4 billion in the same period last year, did not trade.

Meikles led the losers’ chart in percentage terms, dropping 14.35% to close at $85.60. First Capital Bank followed with a loss of 12.36% to close at $7.53 while RTG shed 7.46% to end at $7.04.

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SeedCo declined 4.19% to close at $70.89 and completed the top five loser set. Banking counter NMB did not trade. The company, in its half-year results, indicated that it has fully met the minimum regulatory capital requirement of an equivalent of US$30 million.

“Consequently, the Board has resolved to resume payment of dividends starting with an interim dividend of 45 cents per share payable in scrip or cash. A separate notice for dividend payment will be issued,” it said.

As a result, the Medium Cap Index retreated 1.68% to close at 28,827.10 points.

Conversely, property firm Mash Holdings rose 7.47% to close at $5.40. Dairibord garnered 4% to close at $20.00 while African Sun appreciated by 1.06% to end at $18.19.

The Small Cap Index was off 0.16% to close at 485,173.07 points. Other gains were recorded in GB Holdings, which climbed 3.81% to trade at $2.05.

The market capitalization declined 0.49% to $1.64 trillion. Turnover for the day was down 69.29% to $90.92 million.

On ETFs, the Cass Saddle Agric, Morgan & Co Made in Zim and Morgan & Co Multi-Sector were all flat. The OM ZSE Top-10 was up 0.19% to close at $5.6163.

On the downside, the Datvest eased 0.34% to end at $1.4502 – Harare

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