• Mon. Jul 22nd, 2024

ZSE resumes after National Youth Day break with $15.6bn loss

ByEconomic Times

Feb 23, 2023

By ETimes

The Zimbabwe Stock Exchange (ZSE) resumed trading on Wednesday after the National Youth Day holiday with a loss of $15.6 billion on its market capitalisation due to profit taking.

The Zimbabwe dollar continues to lose ground against the US dollar at the Reserve Bank of Zimbabwe’s weekly foreign currency auction, with the latest conducted today seeing it shed 2.90%.

The local unit eased to $881.75 to the US dollar, down from $856.84 in the last auction.

A total of US$19.63 million was allotted to 498 bidders at both the main and small enterprise auctions.

Coming back to the local bourse performance, the mainstream ZSE All Share Index garnered 1.17% to close at 27,620.13 points while market capitalisation declined from $2.99 trillion in the previous session to $2.97 trillion.

Gains in CBZ and EcoCash saw the Top 10 Index rise by 0.61% to end at 16,746.74 points. CBZ put on 13.86% to close at $140.00 while EcoCash gained 5.83% to finish at $65.99.

Partially offsetting the gains were Axia and BAT which eased 2.51% and 0.04% to close at $130.64 and $2773.00 respectively.

The Medium Cap Index gained the most, up 2.58% to settle at 58,34779 points.

Tanganda recorded the highest price gain of 14.98% to close at $216.45. Edgars followed with a gain of 6.92% to close at $13.90.

On the flipside, SeedCo declined by 4.52% to close at $190.93.

The Small Cap Index was flat at 566,763.63 points.

In the green was Turnall which climbed by 14.91% to $5.75.

General Beltings went down by 0.07% to end at $1.60.

Advertisement

Turnover declined by 58.28% to $169.81 million from $407.11 million in the previous session.

Old Mutual ZSE Top 10 added $0.9447 to $9.0000, Morgan & Co Multi Sector ETF rose by $0.3215 to $21.8215 and CASS Saddle Agriculture ETF was $0.1600 stronger at $2.4100. Morgan & Co Made In Zimbabwe ETF gained $0.0183 to $1.4183 and Datvest Modified Consumer Staples ETF increased by $0.1124 to $1.8124 – Harare

Leave a Reply

Your email address will not be published. Required fields are marked *