• Sun. Apr 14th, 2024

ZSE opens new week in red, sheds $47.16bn

ByEconomic Times

Sep 20, 2022

By ETimes

The stock market opened the week lower on continued weakness in heavyweight stocks. Investors were hesitant to take risks after the World Bank’s latest report revealed that Zimbabwe is among the top ten countries most affected by food inflation.

Market breadth, which gauges investors’ sentiment towards trade, closed in the negative as 20 decliners were recorded in contrast to 5 gainers.

At close, the mainstream ZSE All Share Index lost 3.78% to close at 9,982.48 points and market capitalization declined $47.16 billion to $1.20 trillion.

Losses in Innscor, Simbisa and Axia saw the Top 10 Index fall 5.21% to 5,410.90 points. Innscor fell 14.84% to $166.16 while Simbisa eased 14.20% to $99.87. Axia depreciated by 12.96% to close at $23.27.

None of the heavyweight stocks recorded gains in today’s session.

Horticulture exporter Ariston led advancers, appreciating by 6.67% to end at $3.20. Brick maker Willdale climbed up by 5.27% to close at $1.84. ZHL added 4.42% to settle at $4.00 after declaring a half-year dividend.

“The Board, having considered the Group’s level of profitability and reserves, economic downturn as a result of the Russia-Ukraine war and associated risks to business growth, will be declaring its first USD denominated dividend of USD 250 000,” the company said in a statement accompanying its results.

“The dividend is in line with the Group’s policy to pass positive cash flows from investments to the ultimate shareholder. A separate dividend notice will be published to this effect.”

First Capital Bank gained 2.93% to $8.23.

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On the other hand, Proplastics topped the losers’ chart, declining by 14.99% to close at $15.95. CAFCA eased 14.85% to close at $166.05. This saw the Medium Cap Index fall 1.31% to close at 25,505.83 points.

The Small Cap Index was off 1.97% to close at 461,045.65 points despite Truworth’s gain of 0.13% to $1.95.

In all, 3,653,500 shares valued at $279,115,109.50 were traded in 407 deals. Transactions in the shares of Delta topped the activity chart with 1,363,500 shares valued at $170,484,745. Innscor followed with 277,700 shares worth $46,142,705, while Axia traded 999,800 shares valued at $23,267,790.

The Cass Saddle Agric ETF was up 0.56% to close at $1.7900 while Morgan & Co Made in Zim added 0.55% to end at $1.2167.

On the flip side, the Datvest ETF eased 3.11% to $1.4034 while the Morgan & Co Multi-Sector declined 0.21% to $26.500. The OM ZSE Top-10 ETF lost 7.64% to $4.0163 – Harare

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