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ZSE opens week on a positive note, gains $147.06bn

ByETimes

Nov 28, 2023

By ETimes

Trading activities at the Zimbabwe Stock Exchange (ZSE) started the week on a positive note, as its, All Share Index (ASI) rose by 0.92% to close at 182,945.06 points.

At the close of trading on Monday, the market breadth ended positive, with 14 advancing stocks in contrast to 8 depreciating stocks.

The Top 10 Index gained 1.37% to close at 77,351.72 points. The Medium Cap Index was up a marginal 0.06% to end at 815,062.27 points.

The Small Cap Index was 0.04% higher at 5,315,677.71 points.

Similarly, the market capitalisation gained $147.06 billion to close at $14.45 trillion.

Investors traded 10.3 million shares valued at $4.11 billion in 202 deals.

Transactions in the shares of OK Zimbabwe topped the activity chart with 8.26 million shares valued at $1.57 billion.

Cass Saddle Agriculture ETF and Morgan & Co Made In Zim ETF remained flat $7.5000 and $7.5600.

Old Mutual Top 10 ETF lost $1.0838 to $31.0162.

Morgan & Co Made In Zimbabwe ETF remained flat $7.5600, Datvest Modified Consumer Staples ETF added $0.8211 to $9.0000.

Tigere REIT lost $19.0806 to $235.7894.

Meanwhile, the country’s tobacco export earnings have risen 40.20% to US$1,12 billion as at November 24 from US$801,30 million recorded in the same period last year, according to Tobacco Industry Marketing Board (TIMB).

After gold, tobacco is the country’s second-largest source of foreign exchange earnings.

TIMB said the country exported 214,48 million kgs of tobacco at an average price of US$5.24 per kg compared to 168,66 million kgs at US$4,75 per kg last year.

The bulk of tobacco exports went to the far east, which bought 101,03 million kgs worth US$721,84 million at an average price of $7.14 per kg.

Previously a preserve for commercial farmers, tobacco is fast becoming an attractive source of livelihood for many of Zimbabwe’s small scale and communal farmers-HARARE

By ETimes

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