• Fri. Apr 19th, 2024

ZSE halts downturn, records negligible gain

ByETimes

Nov 22, 2023

By ETimes

The Zimbabwe Stock Exchange recorded a marginal gain on Tuesday to halt the previous loss.

Today’s performance comes as the Zimbabwean dollar depreciated by a negligible 0.32% to close at 5,774.27 per US dollar at the weekly auction system.

A widening gap between the official and parallel market exchange rates of the ZWL indicates the government’s lack of capacity to stabilise the currency and the likelihood it may depreciate further, according to market watchers.

The local unit was quoted at $9,000 per dollar at the parallel market on Tuesday.

At the close of trade, the mainstream ZSE All Share Index was 0.01% higher at 175,590.24 points.

The Top 10 Index lost 0.70% to end at 74,951.84 points.

The Medium Cap Index and Small Cap Index gained 1.36% and 8.15% to close at 767,764.81 and 5,343,533.69 respectively.

Consequently, market breadth closed positive as 12 stocks were on the gainer’s table while 8 on the laggards’ log.

A total of 798,800 shares valued at $636.83 million were exchanged in 221 deals-HARARE

By ETimes

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