• Mon. Apr 15th, 2024

Selling party continues on ZSE in Wednesday session

ByEconomic Times

Nov 10, 2022

By ETimes

The ZSE All Share Index was down a further 211.08 points or 1,41 percent on Wednesday to close the session at 14 734.58 points.

The heavyweight stocks drove the markets all round losses as the Top 10 Index was down 1,64 percent in the session to close at 8 557.68, followed by the Medium Cap index which shed 0,97 percent with the Small cap index and mining index down marginally.

Negative trades were led by beverage giant Delta which lost $7.03 in the day to close trading at $229.1117 as Axia slumped by $4.30 to end with a share price of $75.89. Telecoms giant Econet in the same session lost $3.31 to $81.99.

Hotelier AfSun shed $1.95 to trade at $25.00 and ART which is due to release its full year results went down by $1.94 to $15.06.

Partially offsetting the losses were Seed Co which saw its share price increase by $7.85 to $90.00, Lafarge also added $4.00 to $124.00 whilst CBZ gained $0.75 to close at $132.75.

Zimplow traded $0.11 higher at $18.36 as ZIMRE went up by $0.11 to close the day at $5.10.

It was a green day in the ETF market despite Old Mutual ZSE TOP 10 which lost $0.70 to close the session at $5.29 whilst Cass Saddle Agriculture ETF remained flat at $2.00.

DATVEST Modified Consumer Staples ETF was up $0.01 to $1.70, whilst the Morgan & Co Multi Sector ETF gained $0.35 to close at $22.00. The Morgan & Co Made in Zimbabwe ETF capped the gains as it ticked $0.02 in the positive to $1.1100.

Oil prices slipped on Wednesday after industry data showed that US crude stockpiles rose more than expected and on concerns that a rebound in Covid-19 cases in top importer China would hurt fuel demand.

Brent crude futures fell US61c, or 0,6 percent, to US$94.75 a barrel, while US West Texas Intermediate (WTI) crude futures fell US68c, or 0,7 percent, to US$88.23 a barrel. The benchmarks fell about 3 percent on Tuesday.

Gold retreated on Wednesday from a one-month peak scaled in the previous session, though prices flitted in a relatively tight range as cautious investors positioned ahead of US inflation data due later this week.

Spot gold was down 0,2 percent at US$1 708.94 per ounce. US gold futures fell 0.3 percent to $1,711.60.

Bullion prices rose more than 2 percent to breach the key US$1 700 level on Tuesday, after a fall in the dollar and bond yields, as well as some technical buying.

Spot silver fell 0,2 percent at US$21.30. Platinum rose 0,7 percent to US$1 004.00, while palladium was down 0,3 percent at US$1 914.82 – Harare

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