• Mon. Jul 22nd, 2024

Investors gain $6.52bn as Equities inch up


Dec 13, 2023

By ETimes

Investors gained $6.52 billion last week on the floor of the Zimbabwe Stock Exchange as the selling pressure on heavily capitalised counters has not allowed the market to advance remarkably lately.

At the close of the trading session, the benchmark index, which is the All-Share Index (ASI), rose by 0.06% to 197,806.34 points.

The market capitalisation also rose by 0.04% to $15.71 trillion.

Market breadth closed positive as 7 were on the leaders’ table and 4 on the laggards’ list.

The Top 10 Index was nearly flat at 84,019.51 points.

But the Medium Cap Index was up 0.19% to settle at 873,742.08 points while the Small Cap Index was flat at 5,344,423.84     points.

At the close of the week’s trading session, a total turnover of 6.57 million shares worth $2.88 billion in 188 deals was traded in the session by investors, in contrast to a total of 591,900 shares valued at $887.27 million that were exchanged in 152 deals in the previous session.

Delta was the most traded stock on the Bourse. Transactions in the shares of the counter topped the activity chart with 572,400 shares valued at $2 billion.

Foreign investors were net sellers after disposing of $472.48 million against $0.00 buys.

Market dynamics reveal that players are afraid to buy at this level, waiting for pullbacks to take a plunge as money is flowing from one sector to another, seeking value in terms of low prices with high upside potential.

Also, investors and traders are positioning themselves amidst the changing sentiments in the hope of improved liquidity and positive economic indices that may reverse the current trend.

Old Mutual Top 10 ETF gained by $2.000 to $36.5000.

Cass Saddle Agriculture ETF lost by $1.1000 to close at $6.4000.

Morgan & Co Made Multisector ETF, Morgan & Co In Zim ETF and Datvest Modified Consumer Staples ETF remained flat at $560.0000, $9.5000 and $9.000 respectively.

Tigere REIT traded $2.021 higher closing at $298.8221.

Meanwhile the Zimbabwean dollar depreciated by 1.29% to close at ZWL5,903.38 per dollar on the auction system-HARARE

By ETimes

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