ZSE Daily Roundup 09.09.19
- The Zimbabwe Stock Exchange has continued on a downwards trajectory on selloffs and weak demand. The stock market losses took to 5 straight loss making sessions as all the 4 ZSE indices closed in negative territory.
- The ZSE All Share index lost -0.71% to close at 162.89 while the industrials eased -0.72% to settle at 541.83. The ZSE Top 10 index dropped -1.03% to settle at 144.66 while the mining index marginally gave up -0.07% to close at 262.5.
- A total of 21 counters were active in the week opening session with 4 counters emerging as winners and 8 counters closed as losers leaving a remainder of 9 counters to sail stable.
- Econet’s spinoff Cassava was the session’s worst performer dwindling by -4.13% to settle at 199.84c while banking stock, First Capital eased -2% to close at 6.86c. Delta lost -1.19% to settle at 290c while seed producer SeedCo retreated -0.52% to close at 144.25c.
- Old Mutual emerged as the session’s top performer gaining 2.38% to close at 1833.94c. In a developing story, CE Peter Moyo reported for duty today after Friday’s court ruling which reinstated him as the CE of Old Mutual. However Peter was barred from entering into his office with Moyo’s lawyer Eric Mabuza requesting Old Mutual to issue out a board resolution to that effect.
- Retailer OK trailed the top performer on surging 1.71% to settle at 32.20c while Simbisa went up 1.52% to close at 58c. Meikles capped the risers set on adding 1.45% to settle at 113.62
Respect is the Lead Analyst and Managing Director at Equity Axis. He has 8 years experience in respective fields of finance and media. Particular areas of expertise include Asset Management, Stockbroking and Financial Media. Respect is on a mission to change the course of Financial Media in Africa through digitalization