• Mon. Apr 15th, 2024

Heavyweights drive ZSE to a 0.93% fall

ByEconomic Times

Nov 17, 2022

By ETimes

During the mid-week trading session, the ZSE All Share Index lost 129.89 points or 0,93 percent to close the trading session at 13 808.13 points.

The Top 10 Index took a 1,41 percent hit on Wednesday to close at 7 826.89 points, as the Mid-Caps suffered a 0.98 percent loss in the session to close the day at 511 208.46

Leading the losers’ charts was CBZ holdings lost $10.00 to close the session trading at $120.00, whilst Innscor which has moved into opaque beer production slumped by $8.49 to close the day at $311.66.

Delta which is looking at expanding production through expanding the Super Chibuku, Ciders and PET lines in order to satisfy a growing market lost $4.25 in the day to close at $196.14. Simbisa which is trading under a cautionary shed $4.05 to $212.26 as Dairibord went down by $2.75 to $47.00 despite increasing foreign currency earnings through increased exports.

Reversing some of the losses was Econet which increased its share price by $1.99 to $71.98, Afsun added $1.43 to close the session at $25.91. Retailer OK Zimbabwe gained $0.84 in the session to $29.94.


Edgars traded $0.48 higher at $8.00 and CFI gained $0.35 to $358.00.

MORGAN & CO MS ETF and Cass Saddle ETF remained flat at $20.00 and $2.00 respectively. MORGAN & CO MIZ ETF was up $0.08 at $1.20, DCMS ETF moved up by $0.01 to $1.62 and OLD MUTUAL ZSE TOP 10 added $0.82 to close at $6.31.

Oil prices erased earlier losses on Wednesday after an incident involving a commercial vessel off the coast of Oman, but rising Covid-19 cases in China capped gains.

Brent crude futures gained 0,7 percent, to US$94.51 a barrel, and West Texas Intermediate (WTI) rose 0,4 percent to US$87.27 a barrel. Both benchmarks fell more than US$1 earlier in the session.

Gold prices steadied near a three-month peak on Wednesday as signs of cooling US inflation boosted bets for smaller rate hikes, while markets awaited more clarity surrounding reports of Russian missiles killing two people in Poland.

Spot gold held its ground at US$1 776.73 per ounce, after hitting its highest since August 15 in the previous session.

US gold futures rose 0,2 percent at US$1 780 per ounce.

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