daniel chigunwe
Malvern Nkomo
The Zimbabwe Stock Exchange ZSE All Share Index went down 26 percent in Q3 2023 at 126 642,42 points, compared to 171 408,9 points recorded in Q2 2023.
According to the ZSE latest newsletter, during the period under review, the ZSE also recorded a total market turnover of $171 billion in Q3 2023, representing a 418 percent jump from $33 billion recorded in Q3 last year and a 27 percent increase from the previous quarter.
“The ZSE All Share Index which is the measure of the overall market performance, was down by 26 percent in Q3 2023 to close at 126,642.42 points.
“The ZSE recorded a total market turnover of $171 billion in Q3 2023, a 27 percent increase from the previous quarter.
“In comparison to the same period last year (Q3 2022), the market turnover recorded a 418 percent jump from $33 billion,”.
The number of trades on the Zimbabwean dollar bourse improved by 12,93 percent in Q3 2023 standing at 9 631 compared to 8 512 trades recorded in Q3 2022.
Foreign Investor participation accounted for 11 percent of Q3 2023 trades.
The top five traded companies during the period under review were First Mutual Life Holdings ($52,7 billion), Delta Zimbabwe ($14,8 billion), Econet Wireless ($5,8 billion), Meikles ($3,5 billion) and OK Zimbabwe ($3,0 billion).
The ZSE ETF Index which measures the performance of ZSE-listed ETFs was up by 11 percent in Q3 2023 to close at 1596,31 points and the total value traded on the ETF board was $84,8 million.
Meanwhile, the total number of ETF units that exchanged hands in Q3 2023 was 7,5 million taking the market capitalisation for the ETFs to $39 billion at the end of Q3 2023.
The ZSE market capitalisation closed 29 percent weaker during the quarter under review compared to Q2 2023, to close the quarter at $9,87 trillion. This represents 443 percent increase from the same comparative period last year (Q3 2022).
The top contributors of ZSE market capitalisation were Delta, contributing 30,36 percent, followed by Econet which contributed 13,1 percent and FBC contributing 5,44 percent.
Elsewhere on the US dollar-dominated market the Victoria Falls Stock Exchange (VFEX), a strong US$5,97 million turnover was recorded in the third quarter 2023.
According to the latest VFEX Markets Newsletter, the market recorded 3 617 points in Q3 2023 compared to 336 trades in Q3 2022 while VFEX All share index closed the quarter at 74, 4758 points, a 2,22 percent decline from the previous quarter.
The year-to-date turnover stood at USD$19,5 million showing a 115,5 percent increase from the 2022 comparative quarter.
According to the statistics by VFEX , the market capitalisation increased by 272,79 percent from the same comparative period last year to end at US$1,27 billion.
“The VFEX market capitalisation for Q3 2023 closed at USD$1,27 billion representing a slight decline of 0,89 percent from the previous quarter (Q2 2023) of USD$ 1,29 billion”.
Bongani Ndlovu