Zimbabwe Stock Exchange dips as Victoria Falls Exchange gains
The Zimbabwe Stock Exchange (ZSE) continued its downward trend, with the All Share Index slipping by 0,09 percent to close at 191.55 points.
Market capitalisation declined by 1,31 percent to ZiG 57,65 billion (US$2,18 billion), reflecting investor caution amid ongoing currency and inflation concerns.
Despite the overall market decline, Starafricacorporation led the gainers, surging by 8,61 percent, followed by SeedCo, which climbed 7,67 percent.
Econet Wireless also saw modest growth of 0,35 percent, while NMB Bank and GB Holdings posted minor gains.
On the losing side, ZHL Holdings shed 2,28 percent, followed by Ecocash Holdings, which lost 2,04 percent and CBZ Holdings was down 2,01 percent.
Heavyweight stocks such as Delta Corporation, the market’s most traded counter with a turnover of ZiG 7,99 million, remained flat despite high activity.
Trading volumes spiked significantly, with ZiG 20,24 million worth of shares changing hands, a 1 629.58 percent increase from the previous session.
Econet, SeedCo, and NMB were among the value leaders, attracting substantial investor interest.
Meanwhile, the Victoria Falls Stock Exchange (VFEX) bucked the trend, with its All Share Index rising by 1,79 percent to 102.29 points.
Market capitalisation grew by 1,81 percent to US$1,13 billion, reflecting renewed interest in USD-denominated securities.
Axia Corporation which added 16,12 percent, First Capital Bank gained 15,11 percent and Zimplow was up 18,56 percent were the top gainers, driving the market’s performance.
The interbank exchange rate edged slightly higher to ZiG 26.4187 per USD, while the year-to-date performance remains negative at 11,45 percent less for ZSE and down 12,22 percent for VFEX.
Investors remain cautious amid economic uncertainties, though select stocks continue to present opportunities.
As both exchanges navigate economic headwinds, the contrasting performances of ZSE and VFEX highlight shifting investor preferences toward USD-denominated assets.
The coming sessions will be crucial in determining whether ZSE stabilises or continues its downward trajectory.-ebsinessweekl
