Equities remain flat as cautious investors watch 

23 May, 2022 - 00:05 0 Views
Equities remain flat as cautious investors watch  Zimbabwe Stock Exchange

eBusiness Weekly

Business Writer

Equities remained virtually flat on Friday as investors remained cautious amid currency weakness and policy flip flop.

Market breadth, a barometer for measuring investor’s sentiment towards trade, was negative as there were 19 losers against 11 gainers.

The ZSE All Share Index was 0.02 percent up to 20,797.23 points and the Top 10 Index was 0.85 percent up to 13,361.46 points after gains in Meikles and CBZ and losses in OK Zimbabwe and EcoCash.

Meikles was 5.62 percent higher to $188.00. CBZ also rose 2.48 percent to $112.82.

On the other hand, OK Zimbabwe was down 2.11 percent to $37.27 and EcoCash pared a marginal 0.47 percent to $183.97.

Elsewhere on the price sheet, property firm Mash Holdings led the risers gaining 14.78 percent   to $3.78 and horticulture exporter Ariston put on 7.01 percent to $4.20. Hotelier African Sun rose to $13.55 notching up 3.62 percent in the process.

Losses were recorded in Willdale, Dairibord and ZHL which lost 5.79 percent, 5.61 percent and 3.94 percent to settle at $2.56, $50.02 and $5.30 respectively. Starafrica closed at $1.92 going down by 3.88 percent.

Small Cap stock Turnall was the worst performing stock, declining by 10.66 percent to finish at $4.30.

Trading remained subdued with turnover declining by 10.31 percent to $154.62 million. Econet was the most traded counter bringing in turnover of $98.86 million followed by Delta with a transaction value of $14.46 million.

Market capitalisation rose 0.02 percent to $2.63 trillion.

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