• Mon. Mar 4th, 2024

ZSE marginal gains led by VFEX bound stocks

ByEconomic Times

Dec 15, 2022

By ETimes

The marginal gains seen on the Zimbabwe Stock Exchange (ZSE) in midweek trades were driven by stocks that are trading under a cautionary and looking to list on the VFEX.
 
The ZSE All Share Index added 36,07 points which represents a 0,24 percent to close at 14 878.58 points.
 
Gains were recorded in Axia which is set for delisting and subsequently list on the foreign denominated bourse, VFEX. The diversified goods firm saw its share price increase by $10.27 to $80.29.


 
Conglomerate Innscor which is also trading under a cautionary after it notified its shareholders that it will be moving to VFEX was $4.63 firmer at $350.04 whilst retail shop OK Zimbabwe added $3.59 to $29.75.
 
Financial stock CBZ Holdings gained $0.98 to close the day at $124.00 as it awaits the approval of the Competition Tariff Committee approval of its merger with Fidelity Holdings. To cap notable gains General Beltings was up $0.10 to $1.80.
 
The gains were mostly erased by losses which were recorded in cigarette manufacturer BAT which shed $10.00 to $2 880.00 as Seed Co which has said it has sufficient stocks to cover demand but recorded an expected half year loss lost $5.89 to $72.11.
 
Dairibord Holdings traded $5.55 lower at $31.45 despite generating foreign currency via sales and exports enough to finance expansion. Another exporter ART saw its share price decline by $2.30 in the midweek session to $13.10 whilst Proplastics eased $1.00 to end the day at $25.00.
 
In the derivatives market the MCMS and MIZ ETFs remained at $21.00 and $1.19 respectively. The OMTT however lost $0.88 to $5.12, as the CSAG ETF shed $0.01 to $1.80. The DCMS ETF saw its unit price decrease by $0.01 to $1.63.

The REIT market saw the TIGERE REIT recover $0.26 to $34.00 – Harare

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