• Mon. Jul 22nd, 2024

Losses in Big Caps see ZSE close 5.69% lower

ByEconomic Times

Sep 14, 2022

By ETimes

The Zimbabwe Stock Exchange closed 5.69% lower as the heavyweight counters offset weak gains in other stocks. Market breadth closed negative, with 4 gainers against 22 losers, while 24 remained static.

The top gainers were mainly mid-tier stocks, driven by small trades, with which a large single trade in OK Zimbabwe dominated market turnover. OK Zimbabwe traded 5,271,600.00 shares valued at $188,919,840. Delta followed with 674,100 shares worth $105,914,910.

Market turnover improved from yesterday’s $232.08 million to $446.47 million.

The market’s performance indicator – the ZSE All Share Index – closed lower at 11,680.66 points from 12,384.96 points in the previous session.

Cigarette manufacturer BAT led the fallers as its share price dipped by 15% to close at $1955.00.

NatFoods followed with a 14.87% loss to end at $1145.00, while Hippo shed 12.52% to finish at $209.95. Econet trailed by 10.08% to end at $74.72. The heavy losses saw the Top 10 Index fall by 5.15% to close at 6,749.94 points.

Atop the gainer’s chart was property firm Mash Holdings, with a 4.67% rise to close at $5.23. Brick maker Willdale followed with 0.33% to close at $1.70 while StarAfrica added 0.15% to end at $1.70.

Losses in TSL dragged down the Medium Cap Index as it plunged 1.35% to close at 28,198.91 points. TSL lost 13.17% to finish at $52.10.

The Small Cap Index recorded a marginal gain of 0.01% to close at 487,459.07 points on GB Holdings, which added 0.15% to settle at $2.20.

On ETFs, the Cass Saddle Agric and the Morgan & Co Multi-Sector were both flat.

In the red, the OM ZSE Top-10 lost 4.42% to close at $5.0199 while the Morgan & Co Made in Zim fell 0.47% to finish at $1.2441. The Datvest was off 0.02% to close at $1.4907 – Harare


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