• Mon. Jul 22nd, 2024

Equities, ZWL depreciates further


Sep 20, 2023

By ETimes

HARARE – The bears strengthened its hold on the Zimbabwe Stock Exchange (ZSE) as the market extended its losing streak at the close of Tuesday’s trading, causing the mainstream ZSE All Share Index to plummet by 5.12%.

Specifically, at the close of trades, the benchmark index depreciated by 5.12% to close at 129,354.53 points as against its previous close of 136,334.43 points.

Market capitalisation followed suit in the direction of the mainstream index to stand at $10.11 trillion, representing a 6.90% drop from the $10.86 trillion it stood at the end of the previous trading session, as investors’ net worth waned by $750.23 billion in the session.

The Top 10 Index suffered the most, down 10.20% to close at 57,599.17 points. The losers’ chart was mainly composed of heavily capitalised stocks.

SeedCo Limited shed 14.64% to close at $652.99 ahead of its annual general meeting tomorrow afternoon.

The Medium Cap Index gained the most, up 5.07% to end at 512,313.19 points, while the Small Cap Index added 0.16% to finish at 2,476,941.68 points.

Bears’ camp took dominance over the market breadth with 12 counters in the losers’ chart pitted against 9 counters in the gainers’ chart.

The value of those traded stocks dipped by 79.37% in the session to stand at $213.38 million in 149 trades.

For the second day, Delta was the toast of investors as it traded 36,500 shares valued at $83.34 million.

Meanwhile, the Zimbabwean dollar depreciated by 6.43 against the greenback to $5,015 as the local currency slowly establishes its true value. Previously, the Zimbabwe dollar traded at $4,712.

By ETimes

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