• Fri. Apr 19th, 2024

GB trades flat as group MD Wilbroad Tsuroh retires after 19 years of service


Jan 17, 2024

By ETimes

General Beltings traded flat on Monday after the retirement of Wilbroad Tsuroh as the Group MD for GB Holdings effective 31 December 2023, having served the company for 19 years.

He is replaced by Mr. Joseph Gunda (acting), who is currently the General Manager for General Beltings, effective 1 January 2024.

The counter was flat at $36.00 with a market cap of $1,07 billion, which makes up about 0.087% of the Zimbabwe Stock Exchange equity market.

General Beltings began the year with a share price of $24.00 and has since gained 50% on that price valuation, ranking it fourth on the ZSE in terms of year-to-date performance.

ZSE gained for the second consecutive session as market capitalisation increased by $522 billion to close at $21.98 trillion from $21.46 trillion posted on Friday.

Also, the All-Share Index (ASI) ended 2.53% stronger to close at 273,495.09 points.

The Top 10 Index was up 2.43% to settle at 121,961.61 points.

The Medium Cap Index went up 1.35% to 1,027,202.04 points.

Surprisingly, the Small Cap Index jumped 7.62% to close at 5,900,655.38 points.

Meikles topped the gainers table, up 15% to close at $2,300.00. Masimba followed with 14.20% to end at $925.00. CBZ went up 10.30% to $5,000.12. NMB was 8.37% higher at $738.06. Truworths added 7.69% to close at $42.00.

On the other hand, Turnall was the worst performer down 9.87% to settle at $36.05. CFI plunged 9.78% to $2,266.93. FML lost 7.21% to $997.52. ZHL eased 0.05% to settle at $174.70.

The performance was primarily driven by sustained rebounds in large-capitalised stocks and mid-tier stocks.

Market breadth closed positive as 18 stocks appreciated while 4 declined.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 38.70%.

A total of 3.97 million shares valued at $4.25 billion were exchanged in 246 deals.

CBZ emerged as the most actively traded stock, with 503 800 shares worth $2.51 billion, reflecting strong investor interest and optimism in Zimbabwe’s financial markets.

Morgan & Co Multisector ETF eased $1.9500 to $513.0000 and Old Mutual Top 10 ETF lost $2.4252 to $40.5760.

Datvest Modified Consumer Staples ETF added $0.0005 to $11.8105.

Cass Saddle Agriculture ETF and Morgan & Co Made In Zimbabwe remained flat at $5.5605 and $513.0000 respectively-HARARE

By ETimes

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