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Golden Sibanda Senior Business Reporter
Turnover on the Zimbabwe Stock Exchange jumped 163 percent to $66,3 million in August despite a slower increase in volumes.
This brought the total value of shares traded on the ZSE to $260 million this year compared to $319 million that changed hands in 2013.A total of 328 161 452 shares exchanged hands on ZSE last month, a slight increase in volumes from the 322 407 141 in July.
About 2,1 billion shares were traded in the first eight months of the year against 1,79 billion traded over the same period last year.
Foreign investors have maintained an appetite for the ZSE shares, buying $53,6 million worth of shares from $15,5 million last month.
While the value of shares sold by foreign investors increased significantly from $4,7 million to $12,7 million in fell far short of the inflows.
However, the volume of shares bought by foreign investors on the ZSE decreased significantly from 180,5 million to 94 million this month.
Nonetheless, less shares were sold by foreign investors on the ZSE, at 46,9 million compared to the 105 million shares sold the prior month.
The sharp growth in the value of shares sold on the bourse reflected in market capitalisation, which shot to $5,1 billion from $4,9 billion.
During the period under review, the industrial index gained from 188.08 to close the month of August higher at 196.43.
Foreign investors continue to dominate value and volume of shares traded on ZSE due to the tight liquidity ravaging the local economy.
The ZSE ended the first half of 2013 at 186.56, down 7,7 percent from its opening levels. At one time, it was down by as much as 12 percent, but managed to recover some lost ground.
The leading contributor to the ZSE’s turnover in the half year was Delta, which received $66,7 million of the value invested on the ZSE.
The biggest casualty, Cottco took 86,67 percent off its opening price.
The leading contributing sector to half year performance was mining, followed by dual listed stocks, the worst, being insurance sector.
June saw the best performing month for the half year, recording gains in 15 trading sessions, while recording losses in the 6 sessions.
The biggest weekly gain was also recorded in June, after the main Industrials Index gained 3,68 percent for the week ending 20 June 2014.
The market’s biggest one-day gain was the 1,78 percent gain recorded on the 23rd of April. March was the worst month for equities, after the ZSE closed in the red in 17 trading sessions. By the end of March, the main Industrials Index had lost 6,93 percent, one of the biggest monthly losses since the beginning of the year. January 28’s 1,97 percent loss was the first half’s biggest one-day loss.
Online Reporter