Equity markets close mixed on Tuesday as ZSE rollercoaster continues
On Tuesday, the trading session recorded a significant turnover of ZiG 5,63 million, representing a 522.76 percent surge compared to the previous day, primarily driven by heavyweights Delta Corporation, which accounted for ZiG 3,28 million of the total value traded.
On Tuesday, the Zimbabwe Stock Exchange (ZSE) experienced a subdued session, with the All Share Index declining by 0,35 percent to close at 208.11 points.
The market capitalisation dipped 1,5 percent to ZiG 61,97 billion, reflecting continued bearish sentiment.
The Top 10 Index saw a marginal decline of 0,19 percent, settling at 206.98 points.
On Tuesday, the trading session recorded a significant turnover of ZiG 5,63 million, representing a 522.76 percent surge compared to the previous day, primarily driven by heavyweights Delta Corporation, which accounted for ZiG 3,28 million of the total value traded.
Other value leaders included Hippo and Dairibord, contributing ZiG 1,33 million and ZiG 309 792, respectively.
Star Africa led the gainers, soaring 21,69 percent to ZiG 2.43. BAT and Ecocash followed, registering modest gains of 0,05 percent and 2,74 percent, respectively. On the downside, Tanganda plummeted 14,85 percent, while OK Zimbabwe and Hippo fell by 12,05 percent and 9,71 percent, respectively.
Year-to-date performance remains negative, with the All Share Index down 4,81 percent. Among the notable YTD performers, Zimpapers surged 50 percent, while Star Africa rose 21,69 percent.
Conversely, Tanganda and OK Zimbabwe recorded significant YTD losses of 26,87 percent and 33,63 percent, respectively.
The VFEX All Share Index gained 1,05 percent, closing at 103.66 points. Market capitalisation increased by 1,31 percent to US$1,30 billion. Seed Co International and Axia Corporation led gains, rising 11,08 percent and 11 percent, respectively. Trading activity remained modest, with a total value of US$50 449.41.
On the currency market, the interbank exchange rate stood at ZiG 26.1948 per US dollar, a marginal appreciation of 0,33 percent.
The mixed performance across sectors underscores a cautious market sentiment, with selective buying in defensive and high-growth stocks. Investors remain attuned to macroeconomic developments and currency movements, which continue to shape trading dynamics on both exchanges.-ebsinessweekl
