• Tue. Apr 23rd, 2024

ZSE continues to oscillate, dips 0.84%

ByEconomic Times

Sep 3, 2022

By ETimes

The Zimbabwe Stock Exchange ended Friday’s trading session in negative territory despite the fact that the holding term for shares subject to the 40% Capital Gains Tax has been lowered by the Treasury from the originally proposed 270 days to 180 days.

Accordingly, the ZSE All Share Index dipped 0.84% to close at 13,631.44 points. Market breadth closed at par with 14 gainers and 14 losers.

The Top 10 Index lost 1.11% to close at 8,139.72 points on Econet which eased 3.92% to $106.28.
Banking counter NMB was the best performing stock today. The stock increased 15% to close at $17.25, bringing its year-to-date gain to 114.20%.Mash Holdings and SeedCo were up 5.92% and 5.70% to finish at $5.55 and $74.00, respectively.

On the other hand, Meikles, FMP, and FBC eased 8.30%, 7.07%, and 6.65% to trade at $91.73, $5.27, and $54.00 in that order. This saw the Medium Cap Index fall 0.20% to close at 29,091.02 points.

Clothing retailer Edgars was the worst performing stock, declining by 12.71% to end at $5.75. As a result, the Small Cap Index suffered the most, losing 2.14% to close at 489,494.86 points.

Bucking the trend was GB Holdings, which gained 14.78% to $1.85.

Advertisement

Gold miner RioZim was up 11.77% to $95.00.
Turnover stood at $247.49 million, mainly coming from Innscor at $126.31m, OK Zimbabwe at $62.71m and Delta at $13.59m. The market cap fell $345.08 million to $1.7 trillion.

Foreign investors were net sellers after disposing of $2,200 against buys of $0.00.
The Cass Saddle Agric ETF, Datvest ETF, and Morgan & Co Multi-Sector were both flat. The OM ZSE Top-10 ETF gained 0.21% to close at $5.6300. On the downside was Morgan & Co Made in Zim, which plunged 2.40% to $1.2200 – Harare

Leave a Reply

Your email address will not be published. Required fields are marked *