• Tue. Apr 23rd, 2024

ZSE gains 0.10%, announces changes in circuit breakers

ByETimes

Aug 30, 2023

By ETimes

The Zimbabwe Stock Exchange rose by 0.10% on Tuesday to close at 122,353.47 points.

Market capitalisation increased by 0.98% to $9.64 trillion.

On the other hand, the Top 10 Index lost 0.42% to close at 57,731.90 points.

The Medium Cap Index gained the most, up 1.14% to end at 433,293.60 points while the Small Cap Index gained 0.48% to close at 2,304,820.43 points.

Market turnover, however, declined 68.64% to $2.03 billion in 299 trades.

Despite the fact that fundamentals point to a strong stock market in 2023, analysts say the local bourse now reflects the money supply in ZWL.

ZSE has issued changes to circuit breakers to boost liquidity.

“The ZSE is always looking at ways to boost liquidity, ensure price discovery and align with international best practices. In this regard, the ZSE is continuously reviewing its practices including the use of circuit breakers,” ZSE chief executive officer Justine Bgoni said.

The operational changes are effective from today.

“The ZSE circuit breakers for all counters with a market price which is below the ZWL equivalent of USD0.01 will be restated back to ±100% from the current ±20%,” he said.

“As at 29 August 2023 the below counters will be affected with these changes subject to a weekly review, Ariston Holdings Limited o Bridgefort Capital Limited, Bridgefort Capital Limited Class B, General Beltings Holdings Limited, Getbucks Microfinance Bank Limited, National Tyre Services Limited, Starafricacorporation Limited, Truworths Limited, Turnall Holdings Limited, Willdale Limited, Zeco Holdings Limited and Zimbabwe Newspapers (1980) Limited – Harare

By ETimes

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