ZSE market value up 0.64 pc to $2.59 trillion

The Zimbabwe Stock Exchange (ZSE) total market value inched up in weekly gains recorded in the market’s top capitalised counters.

During the week to May 27 the market capitalisation rose by 0,64 percent to $2,59 trillion compared to $2,57 trillion recorded in the previous week.

Weekly turnover jumped 69 percent to $1,9 billion from $1,1 billion after 111 million shares exchanged hands. During the prior week, only 10,9 million shares exchanged representing a 917 percent increase.

Foreign participation continued to be skewed towards sellers as purchases came in at $70 million against sales of $649 million.

Week on week, the market’s primary indicator, the ZSE All Share Index inched up by 0,66 percent to finish at 20 933 points. The ZSE Top 10 Index paced the fastest as it rose 0,71 percent to 13 454 points from 13 359 points.

At 14 848 points, the ZSE Top 15 points was 0,24 percent above prior week. The Medium Cap rose 0,63 percent to 37 591 points from 37 357 points. The Mining Index, with only one active counter RioZim remained unchanged at 20 021 points as the diversified resources group reported subdued gold production for the first quarter to March 31, 2022 due to flooding and erratic power supplies among other challenges.

On the downside, the Small Cap was the only index to record losses of 3,89 percent to 479 093 points from prior week’s 498 491 points.

Trades on the ETFs were dominated by bears. Total value of trades fell 60 percent to $2,8 million from $7,2 million in the comparable week. This was after 545 934 ETFs exchanged, representing a decline of 55 percent from prior week’s level.

On the US$ denominated exchange, the VFEX traded mixed in Friday trades as Bindura retreated 19 percent while Padenga put on a marginal 0,89 percent. Resources group, Caledonia and Seed Co International remained unchanged.-eBusiness Weekly