ZSE foreign buys slump

HARARE - Foreign buys on the Zimbabwe Stock Exchange (ZSE) slumped 92,63 percent on Tuesday to $28 771 from $390 337 as sales firmed 60,19 percent to $196 336 from $122 567, it has emerged.

Despite this, market capitalisation stood at $12,2 billion, a 0,31 percent improvement on prior session, with three of the ZSE indices rebounding after six consecutive days of losses.

The All Share Index gained 0,28 percent to close at 114,81 points while, the Industrial Index added an almost similar 0,27 percent to 385,93 points, as the Mining Index was up 0,78 percent at 163,38 points spurred by a rebound in Bindura that added 2,67 percent to settle at $0,0616.

Clothing retailer Edgars headlined the gainers of the day as it surged 20 percent to end pegged at $0,0888 on the back of impressive first half 2018 financial results, where the company reported a Profit After Tax of $1,90 million, representing a 234,99 percent rise from the previous comparable period.

Stationery company Art rose 15,94 percent to settle at $0,0720 followed by Barclays with a 14,38 percent lift to $0,0700.

Masimba and CBZ were on the fourth and fifth position of the risers table as the former ticked up 8,86 percent to $0,0700 while, the latter climbed 6,67 percent to $0,1600.

The Top Ten Index let go 0,11 percent to settle lower at 116,88 points as SeedCo, Innscor and Delta weighed down the Index after registering losses of 1,74 percent, 1,39 percent and 0,25 percent to close at respective volume weighted average prices of $1,9639, $1,3805 and $2,1978.

Axia completed the fallers of the day after slipping a marginal 0,04 percent to $0,2700.

The market closed with a positive breadth of six as 10 counters recorded gains against four fallers.

Activity aggregates ended mixed as volumes trimmed 62,42 percent to 2,30 million shares while, values rose 16,98 percent to end at $1,28 million.

Top capitalised stock Econet contributed 28,19 percent to volumes traded and 60,49 percent to the value outturn.

This comes as the ZSE commenced the week on a low note as losses persisted into the new week.

On Monday, heavy capitalised stocks closed mixed as Innscor and Delta registering losses while, Old Mutual gained on the back of firming demand.

Resultantly, the Top Ten Index slumped 1,43 percent to end at 117,01 points. The All Share and the Industrial Indices plunged a similar 1,23 percent to close at 114,49 points and 384,90 points respectively.

Losses in nickel miner Bindura saw the resources index closing at 162,12 points after retreating 0,77 percent, while fallers’ of the day were headlined by Star Africa that succumbed 10,11 percent to $0,0080, trailed by hotelier African Sun with an 8,86 percent loss to $0,0802.

Masimba and ZPI lost 8,14 percent and 6,43 percent to settle at $0,0643 and $0,0160 apiece. Banking group Barclays which issued a cautionary statement today completed the shakers of the day as it trimmed 4,38 percent to end pegged at $0,0612.

— The Financial Gazette

Comments (1)

Answer me this question comrades - if i send in USD to buy a share am i able to receive a USD when i exit the market ? If the answer is no then the ZW market is not worth investing in. FULL STOP

ace mukadota - 23 September 2018

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