ZSE faces pressure amid broad market declines
The Zimbabwe Stock Exchange (ZSE) experienced a challenging session on Tuesday, with the All-Share Index (ALSI) sliding by 3,2 percent to close at 227.74 points.
The Top 10 Index fell more steeply, shedding 3,58 percent, reflecting notable losses among the largest counters.
Despite these declines, the ZSE remains up 127,74 percent year-to-date, underlining the significant gains achieved earlier in the year.
Major decliners included British American Tobacco Zimbabwe, which dropped by ZiG 1 404.41 to ZiG 7 962.00. SeedCo Limited also faced headwinds, losing ZiG 54.70 to close at ZiG 310.20.
Telecommunications giant Econet Wireless fell by ZiG 51.09, settling at ZiG 302.40.
Overall, the trading session was marked by a cautious tone as liquidity tightened, with daily turnover ratios reflecting reduced activity across the board.
On the flip side, Amalgamated Regional Trading Limited (ART) edged up by ZiG 0.33 to ZiG 44.00, while Star Africa Corporation Limited added ZiG 0.11 to close at ZiG 2.40. Gains in these counters offered limited relief to an otherwise bearish market.
Meanwhile, the Victoria Falls Exchange (VFEX) saw muted action, with the All-Share Index inching up by a marginal 0,23 percent to 98.07 points.
Counters such as Simbisa Brands showed resilience, gaining 1,34 percent to trade at US$0.30, while Padenga Holdings declined by 4,53 percent to US$0.18.
Gold and oil prices provided some context to the broader financial landscape. Gold continued to trade steadily at US$1 945 per ounce, reflecting its safe-haven status amid persistent macroeconomic uncertainties. Oil, however, edged lower, with Brent crude trading at US$75.20 per barrel, pressured by renewed concerns about global demand.
In corporate news, Hippo Valley Estates reported a 24 percent increase in revenue to US$102,63 million for the half-year ending 2025, driven by a 21 percent growth in local sugar volumes. However, profit after tax fell 29 percent to US$18,19 million, impacted by rising operational costs.
Investors remain watchful, with key company AGMs, including Innscor and National Foods, set to take place in the coming days, potentially shaping market sentiment further.-ebsinessweekl
