• Tue. Apr 23rd, 2024

ZSE sustained negative close for the eighth consecutive session

ByEconomic Times

Sep 16, 2022

ETimes

Losses in heavyweights Axia and EcoCash offset gains in other stocks, causing the ZSE All Share to fall 8.16% to 10,727.53 points, marking the index’s eighth consecutive session decline.

As measured by market breadth, market sentiment was negative as 16 stocks lost relative to 10 gainers.

The Top 10 Index suffered the most as it succumbed 12.62% to close at 5,897.80 points. Axia led the top fallers with a 12.29% drop to close at $29.77. EcoCash fell 9.38% to end at $25.20.

Cigarette manufacturer BAT did not trade after announcing board resignations and appointments. The company appointed Wilson Chitsonga as the new Finance Director Designate effective at the beginning of this month after the resignation of Vincent Kaloki.

None of the heavyweight counters appeared in the gainer’s pack, which was led by property firm Mash Holdings. The stock gained 8.15% to $5.50. Milk processor Dairibord was up 2.53% to finish at $18.45 while Nampak rose 2.37% to close at $9.50. Banking counter NMB climbed 1.85% to settle at $16.00 and completed the five gainers’ set.

On the other hand, African Sun, ZHL and FBC lost 11.25%, 5% and 3.67% to settle at $13.31, $4.25 and $41.65 respectively. As a result, the Medium Cap Index shed 5.10% to close at 26,760.09 points.

The Small Cap Index retreated 0.13% to close at 486,801.26 points, although Bridgerfort recorded a gain of 3.45% to finish at $9.00.

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Market turnover increased 76.69% to $245.96 million, mainly coming from Delta at $109.83 million, Mash Holdings at $66.36 million and Econet at $22.46 million. The market capitalization fell 1.52% to $1.33 trillion.

The Cass Saddle Agric ETF recovered 14.84% to close at $1.7800, while Morgan & Co Made in Zim rose 0.28% to end at $1.2334. The Morgan & Co Multi-Sector climbed 0.21% to end at $26.5560.

The Datvest ETF was flat at $1.4932.

On the flip side, the OM ZSE Top-10 ETF eased 9.50% to trade at $4.0448 – Harare

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