• Mon. Jul 22nd, 2024

ZSE ascends for second trading day but turnover slides

ByETimes

Aug 18, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) advanced for the second trading session on Thursday in continuation of a swift rally, pushing the benchmark index further north to 120,445.11 points.

The local bourse is showing unusual resilience, having survived exchange rate volatility in the first half of the year and being faced with muted cash flow from overseas investors, a majority of whom fear the country’s policy inconsistencies and elections could get their investment stuck.

A positive market breadth was reported, showing 9 gainers against 6 laggards at the end of trade.

The mainstream ZSE All Share Index rose 1.22% to close at 120,445.11 points, while market capitalisation closed higher at $9.5 trillion.

The Top 10 Index gained 1.72% to close at 56,484.21 points.

The Medium Cap Index added 0.34% to close at 431,352.56 points while the Small Cap Index was flat at 2,293,785.91 points.

Turnover for the day contracted by 10.53%.

In all, 1.35 million shares, estimated at $685.21 million, were traded in 161 deals.

Investors have rallied behind Econet as it led the turnover tables with $305.14 million. Delta had value trades worth $283.98 million.

Foreigners closed as net sellers after they sold $1.36 million and bought $1.25 million.

Datvest Modified Consumer Staples ETF, Morgan & Co Made In Zimbabwe ETF, Cass Saddle Agriculture ETF and Morgan & Co Multisector ETF remained unchanged at $6.800, $5.0000, $6.8000 and $180.0000 respectively.

Old Mutual ZSE Top 10 ETF added $0.0251 to close at $23.6500.

Tigere Real Estate Investment Trust lost $0.1770 to close at $204.8130 – Harare

By ETimes

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