• Sun. May 26th, 2024

ZSE opens week positive as ZiG stays stronger

By ETimes

HARARE – Transactions on the local bourse closed bullish on the first trading day of the week on Monday amid market scepticism over the new currency.

Today’s performance comes as Zimbabwe’s new currency, the ZiG, strengthened 0.22% to 13.28 per US dollar, according to data published on the Reserve Bank of Zimbabwe’s website on Monday.

It also comes amid a clampdown on illegal foreign exchange dealers operating on the streets as authorities seek to protect the ZiG.

At the close of trade, the All Share Index gained 0.35% to close at 96.33 points. However, market capitalisation declined 2.24% to ZiG27.01 billion.

The Top 10 Index was up 0.46% to close at 93.42 points.

Market sentiment, as measured by market breadth, was negative, as 8 stocks lost, relative to 6 gainers.

The value of transactions increased by 148.01% to ZiG115.26 million.

On the VFEX, Innscor Africa gained 0.37% to US$0.4312. Simbisa added 0.03% to US$0.3001.

In the red was First Capital Bank which eased 6.12% to close at US$0.0230 while Padenga shed 0.58% to close at US$0.1705.

By ETimes

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