• Tue. Apr 23rd, 2024

ZSE market cap crosses $4trn

ByEconomic Times

May 6, 2023

By ETimes

Amid the exchange rate volatility, the Zimbabwe Stock Exchange (ZSE) on Friday crossed the $4 trillion mark in terms of market capitalisation, setting a new record as investors avoided high-risk equities and prioritised basic stock investments.

Using the official rate of US$1: ZWL1 070, the market capitalisation is now at US$3.96 billion.

Accordingly, the ZSE All Share Index gained 10.54% to close at 49,689.11 points while market capitalisation increased by $420.65 billion to $4.24 trillion.

The Top 10 Index gained the most, up 12.09% to settle at 29,541.33 points.

Delta and Econet were up 14.99% and 14.98% to close at $976.08 and $379.18 respectively.

The Medium Cap Index jumped 6.155 to close at 99,331.49 points.

Masimba Holdings recorded the highest gains of 15% to $253.00. Meikles and Hippo garnered 14.99% apiece to finish at $488.18 and $914.25 respectively.

On the flipside, Starafrica eased 0.03% to $2.29 while SeedCo fell 0.01% to $200.00.

Turnover up 53.75% to $1,47 billion in 216 trades.

Old Mutual ZSE TOP 10 increased by $0.5556 to $9.5524 and Datvest Modified Consumer Staples ETF increased by $0.2994 to close at $2.5000.

Morgan & Co Made In Zimbabwe ETF added $0.0969 to $2.0969 whilst Cass Saddle Agriculture ETF added $0.0500 to $2.1000.

Morgan & Co Multi Sector ETF remained flat at $29.5000.

On the VFEX Nedbank ZDR topped the gainers table with 0.09% to US$10.8601 while Bindura was the worst performer down 19.68% to US$0.0102 – HARARE

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