daniel chigunwe
Business Writer
Circuit breakers on securities with a market price below the Zimbabwe equivalent of US0,01c have been restated to +/-100 percent from a +/-20 percent, according to the Zimbabwe Stock Exchange (ZSE) chief executive officer Justine Bgoni.
A circuit breaker is used by a stock exchange to restrict trading of a particular stock or an index.
If an index falls or rises by a certain percentage, the exchange triggers trading halts or restrictions on trading. There are two types of circuits, upper circuit when the index shows a strong upward movement and the lower circuit when the index falls considerably.
By capping the maximum movement in any direction gives certainty that losses or gains are contained within a daily limit.
The affected securities are:
Ariston
Bridgefort Capital
Brigdefort Capital Class B
General Beltings
Getbucks
National Tyre Service
Starafricacorporation
Truworths
Turnall
Willdale
Zeco
Zimpapers
Bongani Ndlovu