ZSE in Record Monthly Turnover

Spread the love

The Zimbabwe Stock Exchange (ZSE) ended September 7,5 percent higher and investors may have made a killing on real returns, if inflation for the month comes out lower.

The ZSE market capitalisation, which closed the month of August valued at $175,7 billion, gained approximately $30,8 billion to close the month at $206,5 billion.

Turnover for September at $4,6 billion was the highest single month turnover in years beating the $1,9 billion that was traded in June this year.

If the monthly rate is to come out lower, it means investors may be smiling all the way to the bank.

The number of shares that exchanged hands during the month, at 1 093 040 821, were more than double the previous high of 379 970 700 that changed hands in June 2020.

Meanwhile, during the week to Wednesday, subdued demand in the market’s top capitalised counters dragged the ZSE into losses with four of the benchmark indicators closed pointing downwards.

The ZSE Top 10 Index fell the heaviest with a 3,57 percent decline to close at 1 093 points.

The primary indicator, the ZSE All Share Index declined 2,64 percent to close at 1 638 as losses were recorded across board.

At 1 279 points, the ZSE Top 15 Index was 2,3 percent below prior week levels. The Medium Cap eased 1,45 percent to settle at 3 156 points compared to 3 202 recorded in the previous week.

The Small Cap was the only index to close in the positive with a marginal 0,53 percent gain to 5 664 points.

Total market value went down by 2,57 percent to settle at $206 billion from $211 billion recorded in the prior week.

Turnall led fallers for the week with a 35 percent decline to 52 cents compared to 80 cents recorded in the previous week.

The duo of FCB and Nampak went down by 33 percent each to close at 63,11 cents and $1 respectively.

Property firm Mashonaland Holdings dropped 32 percent of value to 41,75 cents, while crocodile breeder, Padenga wrapped up the week’s top five fallers with a 17 percent decline to $13,10.

Other losses were recorded in Ariston which lost 17 percent to $1,37, while Afdis was 15 percent lower to $17.

The trio of Dairibord, Meikles and Seed Co went down 13 percent each to $9,49, $15 and $19,39 respectively.

Figures from Dairibord show that the firm felt the pinch from economic volatility worsened by Covid-19 with sales volumes for the half year to June 30, 2020 falling 32 percent while total revenue and raw milk intake also went down 14 percent and 6 percent respectively.