Zimbabwe Stock Exchange records $700 million turnover in 2017

On the top five gainers, General Beltings led the movers pack, advancing 900 percent in the year to close at 0.8 cent. ZB Financial Holdings and Nampak put up 696.46 percent and 650 percent to settle at 36 cents and 18 cents respectively. CFI and Hippo also landed in the top five after adding 626.39 percent and 402.86 percent in the year to close at 70.75 cents and 176 cents respectively.

Only three companies recorded losses in the year. RTG was the worst performer in the year, closing the year at one cent after shedding 16.67 percent of its value while Edgars and Turnall lost 16.25 percent and 8.65 percent to settle at 4.02 cents and 0.95 cent in that order.

On the mining space, Bindura and RioZim pushed the resource index high after their share prices rose 38 percent and 300 percent to close at 5.52 cents and 120 cents respectively. Falgold also added 266.67 percent to 2.2 cents while Hwange also gained 26.67 percent to 3.8 cents.

Foreign participation remained subdued in the year with 30 percent of the trades in 2017 being foreign trades, down from the 52 percent recorded in 2016.

Foreigners were net sellers in the year, having bought shares worth $157.8 million ($60.264 million in 2016) and sold shares worth $258.7 million ($140.3 million in 2016).

However in December, foreigners were net buyers, purchasing shares worth $11.7 million compared to sales worth $6.7 million as investors took positions in financial hegemony Old Mutual which plans to collapse into four business units, each to be listed separately.

The local bourse recorded a net outflow of $100.8 million in the year, putting pressure on the scarce hard currency.- The Source

(145 VIEWS)