• Sun. May 26th, 2024

ZSE closes higher amid an influx of forex dividend declaration

ByEconomic Times

Apr 5, 2023

By ETimes

The month of April began on a positive foot as investors expect more companies to release their full-year 2022 audited accounts in the coming days.

Having monitored them, and definitely considering the publications thus far, the declaration of dividends is common to all. It is interesting to note that more listed firms are paying dividends to shareholders partly in foreign currency.

Accordingly, the ZSE All-Share Index was up 1.60% to close at 38,568.48 points.

Market watchers expected the market to sustain its bullish momentum due to the improvement in investor sentiment.

Market breadth closed negative, with 10 stocks on the laggards list and 9 advancing.

FBC lifted the Top 10 Index as it gained the most, appreciating by 2.39% to end at 23,081.98 points. FBC led the gainers table by 14.76% to finish at $113.00.

Econet was one of the worst performers, depreciating by 8.11% to close at $245.71. CBZ eased 7.91% to settle at $175.89. Ecocash was off 2.86% to close at $68.00.

The Medium Cap Index was down 0.55% to close at 75,307.75 points. Losses were recorded in FMP and Mash Holdings which fell 8.11% and 7.11% to close at $15.00 and $13.93 respectively.

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Conversely, Tanganda was 11.11% higher at $350.00. Afdis rose 5% to $315.00. Masimba up 2.11% to $145.00. Proplastics added 2.04% to finish at $96.94.

Market capitalisation declined by $244,57 billion to $3.13 trillion.

Investors traded 2.29 million shares worth $420.96 million in 246 deals, compared with 2.77 million shares worth $834.77 million transacted in 127 deals on Friday.

Old Mutual ZSE Top 10 fell by 0.50% to $9.5000. Others remained unchanged at their holding prices.

On the VFEX, Simbisa, BNC and Innscor Africa Limited eased 0.66%, 0.50% and 0.06% to settle at US$0.4200, US$0.5051 and US$0.6500 respectively – Harare

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