• ZSE lost by 0.50% to 10,695.57 points

  • November closed with monthly record losses

  • Losses spun across all indices

Harare - Zimbabwe’s largest retailer, OK Zimbabwe Limited’s share price on the Zimbabwe Stock Exchange decline by 8.57% to close in the negative territory at $23.0835. The decline, made the counter the worst performer on Tuesday trades as ZSE lost the form it had gained earlier on Monday as sell-offs took a breather that widened the stocks demand.

However, the gains were swept away as profit-taking resumed amid the 2022 national budget which some economic players defined as half-baked and unrealistic, particularly on taxes and reforms to buttress the Zimbabwean dollar which is on the free-fall. The decline however, contributed to the ZSE’s easing of 0.50% to close lower at 10,695.57 points crowning November in record losses.

Losses were recorded across all indices, except for the Mining Index which attracted 0.10% to close positive at 7,193.11. The Old Mutual ZSE Top 10 closed the month at $4.9573 after easing $0.0636.

Other losses were recorded by First Mutual Holdings Limited which succumbed 7.69% to $21.0000, trailed by the canteens and fast foods outlet, Simbisa Brands which lost 5.04% to end at $80.0718.

Clothing outlet, Edgars Zimbabwe and the hospitality group, African Sun Limited both closed in reds after tumbling by 4.25% and 4.01% to close the session at $5.2551 and $6.7190 respectively.

However, trade in the positive was Ariston Holdings which advanced by 8.54%, emerging as the top performer of the day to close stronger at $3.9101.

Diversified retail group, Meikles Limited Zimbabwe closed the month of November in black after notching up 5.49% to $158.2680.

Largest telecoms operator, Econet Wireless Zimbabwe Limited scaled up by 3.82% to $64.8247 while Zimplow Holdings gained a marginal 0.96% to $24.8553.

Bricks manufacturer, Willdale Limited capped the top five risers at $2.8773 after gaining 0.47%.

Equity Axis News