• Mon. Jul 22nd, 2024

ZSE rally continues amid high turnover

ByEconomic Times

Apr 24, 2023

By ETimes

The Zimbabwe Stock Exchange gained for the second day in a row, lifted mostly by select blue-chip gains and medium cap stocks. Turnover improved from yesterday to $2.21 billion in 342 trades.

Delta led the volume chart with 2.26 million units and the value chart with deals worth $1.8 billion.

Market breadth also closed positive, with advancing issues outnumbering declining ones.

The mainstream ZSE All Share Index rose 1.01% to close at 36,894.04 points while market capitalisation increased by 2.21% to close at $3.04 billion.

On the performance board, FML topped the gainer’s list after their share price added 14.72% to close at $23.80 while Masimba Holdings recorded the most significant losses of the day, having declined in share value by 14.30% to close at $145.05.

The Top 10 Index was up 1.30% to end at 21,387.56 points on BAT and CBZ which garnered 9.30% and 5.12% to close at $4700.00 and $185.00 respectively.

On the other hand, OK Zimbabwe fell 2.16% to close at $57.54.

The Medium Cap Index gained 0.13% to close at 79,094.87 points while The Small Cap Index lost 4.57% to close at 764,280.19 points.

Morgan & Co Multi Sector ETF was $2.0000 lower at $29.0000.

Morgan & Co Made In Zimbabwe ETF added $0.1285 to $2.0400. Datvest Modified Consumer Staples ETF increased by $0.1478 to finish at $1.9673 and Old Mutual ZSE Top 10 was $0.1833 up at $9.4893.

Cass Saddle Agriculture ETF remained flat at $2.0079.

Tigere REIT recovered $0.0100 to close at $50.6200.

On the VFEX, Innscor Africa Limited and Simbisa gained 7.66% and 0.14% to end at US$0.5924 and US$0.4196 respectively.

In the red were Bindura, Caledonia and SeedCo International which fell 20.10%, 5.88% and 3.28% to close at US$0.0159, US$16.0000 and US$0.2800 in that order. Padenga was off 0.04% to close at US$0.2195.

Akribos Investment Markets’ first quarter review advised investors to have a neutral position in the banking and insurance sectors while being overweight in the agro-focused, mining, construction, and tourist sectors.

“As the economy continues to encounter dollarisation we anticipate that more counters are likely to migrate to the VFEX,” reads the report.

“However, market activity and liquidity are likely to remain low on the VFEX in the short to medium term as the largest stock market participants which are pension funds and institutions continue to be restricted by the availability of enough US$ contributions to be active on the VFEX.” – Harare

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