Zimpapers Logo

Business Reporter
The Zimbabwe Stock Exchange has introduced the All Share Index, which will show the changing average value of share prices of all companies on the market and will be an efficient measure of how the same market will be performing.

The All Share Index became effective on January 1, 2018 and will now represent the benchmark from the same date.

The ZSE also introduced the Top Ten index which will measure the performance of the top ten heavyweight counters. Both new entrants, ZSE All Share and ZSE Top 10 closed yesterday in the negative after falling 2,15 percent to 97,85 and 2,96 percent to 97,04 respectively.

Insurance firm, First Mutual Life, Meikles and Econet and Axia, were the top value drivers each contributing $9 750, $7 350 and $3 870 in that order. Axia and Old Mutual contributed $2 582 and $1 410 respectively to total turnover.

Brick making firm, Willdale was the main volume contributor after 100 000 shares exchanged while FML and Nampak traded 50 000 shares and 25 000 share respectively.

On the downside were Old Mutual, which fell 14,86 percent to settle at $4,70 while Delta was 6,25 percent weaker to $1,50. Econet also made up part of the session’s bears after its value reduced by 2,34 percent to 90 cents.

Further losses were offset by marginal gains in hospitality group, Meikles and crocodile breeder Padenga that rose by 0,7 percent to 29,4 cents and 0,5 percent to 55 cents.

The Minings Index of four counters remained flat at 142,40 level after all the counters Bindura, Hwange, Falgold and RioZim closed unchanged at 5,52 cents, 2,2 cents, 3,8 cents and $1,20 respectively.

Falgold last week reported it narrowed losses by 40 percent to $750 978 in the year ended September 30, 2017 compared to a loss of $1,356 million incurred in the prior year. The reduction was driven by the sale of its Dalny Mine, which was acquired by RioZim.

Total turnover for the day was a paltry $27 000 from the exchange of 195 shares in thin trades while total market capitalisation was at $9,362 billion.