Losses persist on the ZSE…
Losses persisted on the ZSE as all the four major indices we review closed in the red. The All-Share Index was 0.21% weaker at 195.94pts while, the Blue-Chip Index was 0.27%
lower at 189.88pts. The Mid Cap Index lost a negligible 0.02% to end pegged at 241.45pts while, the Agriculture Index was 0.85% down at 152.35pts on the back of losses in Hippo. Leading the laggards of the day was Star Africa that plunged 15.12% to $0.0426 while, logistics company Unifreight trailed behind on a 14.38% decline to close at $1.3100. Sugar processor Hippo continued to lose ground in the session as it eased 9.84% to settle at a VWAP of $3.6091 while, Proplastics dropped 6.23% to $1.2190. Banking group Ecocash capped the top five worst performers of the day as it retreated by 2.69% to $0.1358. Partially offsetting today’s losses was Zimre Holdings that charged 12.73% to $0.2800 while, agriculture concern Ariston advanced 7.01% to close at $0.0375. Tea producer Tanganda was 6.67% higher at $0.9600 while, seed technology company SeedCo Limited added 0.48% to $2.4148. Property company Mashonaland fastened the top five gainers’ list of the day as it rose 0.18% to $1.5779.
Activity aggregates improved in the session as volumes traded charged 33.37% to $1.80m shares while, turnover increased by 175.55% to $13.51m. Delta was the top traded counter in the session as it contributed 43.72% of the volume traded and 76.60% of the total value traded. Other notable volume drivers of the day were Proplastics (18.66%), Econet (11.05%), Hippo Valley (10.94%) and CBZ (10.58%). In the REIT category, the Tigere REIT was 0.63% higher at $1.3562 as 1,439 units exchanged hands in the name. Elsewhere, the ZSE Holdings has successfully self-listed on the Zimbabwe Stock Exchange (ZSE), marking a significant milestone for Zimbabwe's capital markets and trading in the company’s shares will commence tomorrow. As a self-listed entity, ZSE Holdings will be regulated by the Securities and Exchange Commission (SEC) and will be subject to the same disclosure requirements and corporate governance standards as other listed companies.