• Tue. Jul 16th, 2024

ZSE closes in on $3 trillion market cap

ByEconomic Times

Mar 20, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) ended trading on a positive note Friday, as market capitalisation gained $83,59 billion, or 2.91% to close at $2.95 trillion, up from $2.86 trillion posted the previous day.

Specifically, the ZSE All-Share Index inched higher by 2.56% to close at 33,715.26 points, up from 32,874.16 on Thursday.

The gain was driven by price appreciation in large and mid-tier stocks.

Market sentiment closed positive with 18 gainers compared to four losers.

The Top 10 Index was up 2.53% to close at 19,984.56 points on Econet, which gained 6.83% to finish at $235.13 and left its market capitalisation at $609.13 billion.

The Medium Cap Index garnered 1.99% to settle at 68,364.9 points.

Nampak dominated the gainers’ chart in percentage terms by 15% to close at $32.20. Meikles followed with a gain of 14.98% to close at $272.45. ART climbed by 13.85% to finish at $29.60. First Capital Bank improved by 8.03% to close at $19.55 after its directors resolved to move the company’s listing from the ZSE to the Victoria Falls Stock Exchange.

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This comes as more listed firms have expressed a strong desire to list on VFEX in order to raise more capital. In total, nine counters are listed on the dollar-denominated bourse.

On the other hand, RTG led the losers’ chart by 7.07% to close at $12.05, FBC eased 1.63% to close at $85.53 and Zimplow fell 1.59% to close at $34.00. Hotelier African Sun depreciated by 0.14% to end at $89.86.

The Small Cap Index recovered 1.01% to settle at 671,319.22 points.

Meanwhile, the total volume of shares traded stood at 3.43 million shares worth $1.08 billion traded in 227 deals. The value of trades yesterday was at $731.2 million, representing a 48.76% increase to $1.08 billion.

Transactions in the shares of Delta topped the activity chart with 1 million shares valued at $665.05 million. Econet followed with 1.46 million shares worth $343.33 million.

Morgan & Co Made In Zimbabwe ETF was up 0.69% to finish at $1.4400, Morgan & Co Multi Sector ETF gained 0.68% to end at $21.9500 and OML ETF garnered a marginal 0.05% to close at $8.0800.

On the flip side, Cass Saddle Agriculture ETF which eased 1.11% to end at $2.0700 and Datvest ETF was off 0.05% to settle at $1.8789.

On the VFEX, Innscor Africa Limited appreciated by 4.39% to end at US$0.7000. Simbisa was the worst performer, down 3.37% to end at US$0.4146. BNC went down by 0.50% to close at US$0.0199 while AXI was 0.47% weak at US$0.1247 – Harare

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