• Thu. Sep 21st, 2023

ZSE opens week positive, gains $16.56bn

ByEconomic Times

Nov 1, 2022

By ETimes

The Zimbabwe Stock Exchange market capitalization on Monday rose $16.56 billion to $1.82 trillion, up from the $1.8 trillion it closed the previous session with.

It followed the mainstream All Share Index’s path, which gained 0.93% to close at 15,072.14 points.   

Market sentiment, as measured by the market breadth, was positive, as 14 stocks gained relative to 7 losers.

Among the heavyweights, Delta put on 2.46% to close at $240.00. On the other hand, transactions in the shares of Delta topped the activity chart with 277,900 shares valued at $66,697,020. The Top 10 Index was up 0.77% to 8,878.08 points.

In the red was EcoCash which eased 0.27% to settle at $43.98.

NatFoods, which issued a cautionary on delisting from the Zimbabwe Stock Exchange, lost 0.01% to end at $1102.02. It will be the sixth counter after Simbisa, which has similar intentions to list with immediate effect on the Victoria Falls Stock Exchange that trades exclusively in US dollars.

The Medium Cap Index garnered 1.27% to close at 33,256.19 points. Hotelier African Sun recorded the highest price gain of 13.04% to close at $26.00. Banking counter FBC climbed by 8% to end at $54.00. Analysts say banks are getting more than 80% of their revenue from bank charges. “Thus, because of the increased use of mobile banking, it is bound to be more profitable for them”.

Sugar producer Starafrica followed with a gain of 2.73% to close at $1.85.

On the flip side, Mash Holdings led the losers’ chart by 5.86% to close at $7.53. Meikles followed, plunging 2.30% to close at $100.30. First Capital Bank fell 0.29% to $9.31.

The Small Cap Index gained the most, with 1.52%, to close at 531,535.21 points. Fidelity added 9.09% to $24.00.

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However, the clothing retailer shed 1.32% to close at $7.50.

Turnover declined from $213.35 million to $130,03 million in 180 trades.

The Datvest ETF was down 0.05% to $1.7453 while the OM ZSE Top-10 ETF plunged 1.38% to $5.4132. Also, the Morgan & Co Made in Zim declined 8.08% to $1.031.

Gains were recorded in the Morgan & Co Multi-Sector which climbed by 3.11% to $21.9118 and the Cass Saddle Agric ETF was up 6.68% to $2.0000 – Harare

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