eBusiness Weekly
Business Writer
The Zimbabwe Stock Exchange (ZSE) kicked off trading with market capitalisation rising to $1,56 trillion on investors’ demand for retail and consumer stocks.
Earlier, the Reserve Bank of Zimbabwe (RBZ), today released its 2022 monetary policy, in which various foreign currency measures have been announced.
Hotels and tour operators have been given the greenlight to retain 100 percent of their foreign currency earnings, while cotton and tobacco farmers will be retaining 75 percent of their foreign currency starting this coming selling season.
The US$50 facility from Bureau de Change has been stopped for the general public, leaving it for the elderly, the disabled and those in dire need of medical assistance.
On the trading front, the mainstream All Share Index rose 1,27 percent to 12,688.57 points, bringing the year to date return to 17,24 percent. At close of trading, a total of 20 stocks were on the gainer’s chart, while 12 equities were on the losing side, with Zimpapers on top after it went down by 13,9 percent to 239.00 cents.
Gains in Ecocash Holdings and Simbisa saw the Top 10 Index rising 1,40 percent to 8,316.48 points. Fintech giant Ecocash Holdings was up 6,26 percent to $5,952.00 cents. Simbisa climbed 4,53 percent to 14,162.00 cents.
Newly listed Tanganda inched 6,33 percent higher to 6,390.00 cents.
Axia led the risers with 10,53 percent gain to 5,526.00. The Medium Cap Index recovered 0.72 percent to 21,590.57 points.
Bucking the trend was GB Holdings which added 5,92 percent to 190.00 cents.
On the other hand, hospitality group RTG was off 4,93 percent to 700.00 cents as FML eased 3,94 percent to 2,058.00 cents. Proplastics lost 3,7 percent to 2,600.00 cents and clothing retailer Edgars was 2,31 percent lower to 430.00 cents.
During the session, investors traded 5,94 million shares worth $382,09 million in 478 trades. Innscor was the most traded stock with 457 300 shares worth $103,98 million.
