11 May 2023
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The ZSE rallied in the second week of May on the back of increased liquidity as investors move to hedge their funds against value erosion. Depreciation of currency, inflation and deliveries of agriculture commodities spurred the market demand and drove the benchmark indices to reach all time highs. The mainstream All-Share Index surged 27.05% to see it breach the 50,000pts mark, as it closed pegged at 63,129.96pts. The segregated Industrials advanced 26.33% to close at an all time high of 205,880.78pts while, the blue-chip Index was the major gainer of the week as it garnered 29.56% to settle at 38,273.52pts. The Mid-Cap Index was 19.49% higher at 118,695.93pts.
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