Zimbabwe Stock Exchange turnover recovers, hits $3.1 million

The Zimbabwe Stock Exchange’s main index closed 0.76 percent up at 99.64 points today, as heavyweights Delta, Old Mutual and Axia traded positively, with turnover reaching $3.1 million.

Today’s daily turnover is significant, considering the market’s forgettable Tuesday, when it turned over $105, the lowest value of shares traded in a day since the ZSE was re-based after dollarisation in 2009.

The ZSE recorded $30 worth of trades upon its reopening on February 19 2009 after having shut down in November 2008 at the height of the country’s hyperinflation crisis.

Shares worth $155 455 were traded yesterday.

Today, Delta traded 2.78 percent up at 67.06 cents, while Innscor spin-off Axia gained 8.69 percent to 3 cents.

Old Mutual was the other gainer, up 0.12 percent to 231.55 cents.

Tobacco processor BAT was, however, 1.63 percent weaker at 1 200 cents after reporting a 23 percent decline in H1 revenue this week.

Delta accounted for $2.4 million of Thursday’s turnover, with Econet weighing in with trades worth $616 000.

Foreigners remained dominant and were net sellers, accounting for $987 994 in buys and $2 919 326 in sales.-The Source

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