• Tue. Nov 29th, 2022

Equities reverse losses, investors gain $4.6bn

ByEconomic Times

Nov 19, 2022

By ETimes

The Zimbabwe Stock Exchange reversed a negative trend of eleven day losses with a $4.6 billion gain on Friday amid  impact of fiscal challenges. Accordingly, the ZSE All-Share Index rose by 0.31% to close at 13,771.09 points from 13,728.85 on Thursday.

The market capitalisation of equities rose to $1,658,754,039,729.00  at the end of trading from $1,654,153,175,677 the previous day.

The value of the shares traded reduced by 59.60% to $323.44 million. Delta was the toast of investors during the day, exchanging 636,100 shares valued at $127,447,500, Econet followed with an account of 1,728,100 shares worth $119,705,200. The counter dipped 0.37% to $69.26 after the directors decided not to declare a half year dividend as they continue to assess the economic environment.

Twelve companies saw gains in their share prices as trading closed on the floor of the ZSE on Friday, while 11 closed negative.

The Top 10 Index rose 1.19% to close at 7,911.97 points. Delta, Hippo and Simbisa saw gains of 1.23%, 0.93% and 0.10% respectively.

On the flip side, banking counter CBZ lost 0.37% to close at $119.55.

Horticulture exporter Ariston climbed 9.36% to close at $3.96. Banking counter First Capital Bank was up 8.16% to end at $10.27. Art gained 2.65% to $3.96. TSL added 2.31% to $42.00.

The Medium Cap Index recovered 0.40% to close at 32,801.57 points.

On the other hand, African Sun eased 1.96% to finish at $25.00. OK Zimbabwe fell 1.51% to $29.49. Cold tea in Tanganda depreciated by 0.52% to $82.98.

Atop the losers’ chart was GB Holdings with a 10% drop to $1.80. This saw the Small Cap Index falling by 0.69% to settle at 510,153.10 points. But, Edgars emerged the day’s highest price loser with 12.50% to close at $9.00.

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On the VFEX, Padenga gained 2.04% to become the best performing stock in the session. Other counters virtually remained flat.

The Datvest Modified Consumer Staples ETF, Morgan & Co Multi Sector and OM ZSE Top-10 ETF saw gains of 1.95%, 1.04% and 9.50% respectively – Harare

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