• Mon. Jul 22nd, 2024

ZWL falls against USD in last auction of 2022 as ZSE records marginal gain

ByEconomic Times

Dec 14, 2022

By ETimes

The marginal gains seen at the Zimbabwe Stock Exchange’s (ZSE) opening this week were sustained in Tuesday’s session.

Today’s performance comes as the Zimbabwe dollar closed the last weekly auction of the year weaker against the greenback in Tuesday’s trade, as parallel market rates breach the 900 mark.

The local unit depreciated by 1.49% against the US dollar to close the week at $671.44. Last week, the local unit was at $661.56. According to the Reserve Bank of Zimbabwe, the next foreign exchange auction will be held on 9 January 2023.

Accordingly, the World Bank’s latest assessment places Zimbabwe on top among the 10 countries hit hardest by food inflation.

At Tuesday’s close, the mainstream All Share Index slightly gained 0.09% to close at 14,842.51 points. Whereas the market capitalisation declined 0.14% to close at $1.66 trillion.

Market sentiment was negative, as nine tickers lost relative to eight gainers.

Further analysis of the day’s trading showed that NatFoods topped the gainers’ table with 6.66% to close at $1200.00.

On the flip side, Econet fell 3.96% to close at $75.27. This saw the Top 10 Index fall by 0.54% to close at 8,622.86 points.

Horticulture exporter Ariston led the losers’ chart in percentage terms, losing 9.04% to close at $3.09. ZHL shed 4.45% to end at $4.05. Hotelier African Sun eased 1.92% to settle at $23.92. Property firm Mash Holdings was 1.45% lower to $17.00.

Conversely, Starafrica, Tanganda and Axia gained 5.99%, 5.10% and 4.43% to close at $1.50, $85.00 and $70.02 respectively. First Capital Bank added 1.78% to finish at $11.00.

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Market turnover rose 52.45% to $164.39 million. Transactions in the shares of Delta topped the activity chart with 244,100 shares valued at $59.93 million.

The OM ZSE Top-10 ETF was up 2.64% to close at $6.0011. In the red was Morgan & Co Made in Zimbabwe which fell 3.80% to $1.1868.

Tigere REIT eased 0.78% to $33.7355 – Harare

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