• Tue. Jul 16th, 2024

ZSE gains 2.27% amid exchange rate disparity concerns

ByEconomic Times

Apr 27, 2023

By ETimes

Despite concerns about the exchange rate’s volatility, the Zimbabwe Stock Exchange (ZSE) ended the midweek session on a positive note, adding $26.47 billion to its market capitalisation as investors positioned themselves in dividend-paying stocks.

The stock market had an All-share Index growth of 871.73 absolute points.

This represents a rise of 2.27% which meant it closed at 39,198.63 points after the end of trading for the day.

Also, the market capitalisation rose by $26.47 billion to close at $3.27 trillion.

Market breadth closed positive with 16 gainers against 5 losers.

The Top 10 Index jumped 1.40% to close at 22,506.27 points.

FBC went up 14.96% to $146.00. EcoCash rose to $49.90, notching up 14.94% in the process.

Delta slid to $790.23 recording 0.73% depreciation. OK Zimbabwe was flat at $57.00.

The Medium Cap Index gained 4.73% to close at 86,378.87 points.

Proplastics and Masimba led gainers, appreciating by 14.99% apiece to close at $136.80 and $191.75, respectively.

FMP was the worst performing stock, declining by 8.02% to close at $18.00. Willdale shed 7.96% to close at $3.55. Nampak fell to $29.00, losing 3.33%.

The Small Cap Index was 1.57% higher at 767,617.94 points. General Beltings added 14.92% to end trade at $2.81.

Total turnover stood at 13.4 million shares worth $896.25 million in 224 deals, compared with a total of 6.41 million shares valued at $1.86 billion traded in 267 deals in the previous session.

Willdale led the volume chart with 5.9 million units, while Delta topped the value chart with deals worth $319.17 million.

The Datvest ETF gained 13.38% to close at $1.7013. OML ETF added 0.09% to end at $9.3600. Morgan & Co Multi Sector ETF eased 7.83% to close at $28.0000. Morgan & Co Made In Zim ETF fell 3.41% to finish at $1.9800. Cass Saddle Agriculture ETF plunged 0.07% to settle at $2.0500.

Tigere REIT was up 0.03% to $50.5272.

On the VFEX, Innscor Africa Limited was the only gainer, with 0.32% to close at US$0.5546.

Bindura suffered the most, falling by 20.12% to end at US$0.0127. Simbisa eased 2.29% to settle at US$0.4050. SeedCo International fell 1.22% to US$0.2900. Padenga plunged 0.45% to close at US$0.2190-HARARE

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