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ZSE turnover on the rise

The Zimbabwe Stock Exchange (ZSE) turnover rose by 76,93% to $19,77 million for the trading week ended on Friday though with lower market capitalisation indicating investors are waiting for more tangible reforms.

BY TATIRA ZWINOIRA

The ZSE market capitalisation declined by 2,74% to $11,94 billion when trading ended on Friday from the previous week’s comparative of $12,28 billion.

The improvement in the market turnover was from $11,17 million earned for the trading week ended September 14.

Last week, the top 10 index closed the week lower at 113,77 points down 4,16% from the previous week’s comparative of 118,71 points, showing trading in the heavyweights was low.

The mining index hardly moved at 163, 44 points at the end of Friday’s trading compared to the previous week when 163,38 points were recorded.

Both the industrial index and all-share index took a knock of 3,11% and 3,07%, respectively, to register 377,54 and 112,35 points on Friday from the previous week’s trading.

The weekly daily average market turnover was up at $3,95 million compared to the previous week’s $2,24 million on the back of improved trades of selected counters.

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