• Tue. Jul 16th, 2024

Stock market gains $1,18 trillion

ByEconomic Times

Jun 8, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) closed in positive territory on Wednesday as investors raked in $1,18 trillion to push the market value to $12,23 trillion.

After the ZSE All Share index surpassed the 10 percent upside mark today, the ZSE imposed a second straight trading stop.

The ZSE All Share Index gained 10,70 percent to close at 150,638.87 points.

ZB, BAT, Delta and CBZ led gainers, appreciating by 15 percent apiece to close at $555,45, $8220,30, $3620,10, and $1617,39, respectively. Construction firm Masimba jumped 14,99 percent to settle at $419,90. There were no losers today.

Morgan & Co Made in Zim ETF was 14,79 percent higher to finish at $4,4100. Cass Saddle Agriculture ETF gained 14,04 percent at $3,9600. Morgan & Co Multi Sector ETF appreciated by 10,60 percent to close at $105,0953. The Datvest ETF gained 10,17 percent to close at $7,4960. OML ETF added 5,50 percent to end at $27,5679. Tigere REIT went up 7,12 percent to $160,1186.

The market capitalisation increased by $1,18 trillion to $12,43 trillion from $11,25 trillion previously.

Investors traded 6,61 million shares worth $2,22 billion in 236 deals.

According to the recent policy measures, the interbank market will henceforth serve as the “primary” forex market.

For banks to sell to customers, the central bank sets a floor price and “wholesales” foreign exchange.

The exchange rate today, the first day of this system, is $4,868.5 against the US dollar – Harare

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