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Business Writer
PPC Limited and Old Mutual were the most liquid stocks on the Zimbabwe Stock Exchange in 2019, according to the ZSE’s 2019 annual report released this week.

A liquid stock is a stock that is easily sold, due to the fact that there is a large volume of shares traded every day.

With a liquid stock, even if you owned a very large number of shares, you could still easily move out of your position due to the fact that so many other people are trading in the stock every day.

“In terms of liquidity, fungible counters PPC Limited and Old Mutual Limited were among top performers with 28 percent and 18 percent respectively. 

“This is despite the introduction of Exchange Control guideline RU102-2019 which requires a 90 day vesting period for all dual listed companies,” reads part of the annual report.

The two counters, were also in the top 10 in terms of turnover.

Old Mutual contributed the biggest turnover after investors exchanged shares worth $409 million, followed by Delta Corporation where shares worth $350 million were traded.

Sister companies Econet and Cassava also found favour from investors with turnover of $323 million and $255 million respectively.

A significant turnover of $2 billion was recorded during the year with the market’s top ten capitalized stocks accounting for 80 percent of that. 

ZSE recorded a net foreign purchases position of $28,5 million in the year 2019 as foreign investor participation increased to 34 percent from 31 percent in the previous year.