malvernmugadzikwa
Tapiwanashe Mangwiro
The Zimbabwe Stock Exchange (ZSE) All Share Index eased by 0,31 points or 0,12 percent to close at 256.37 points on Tuesday, marking a slow day in equity markets.
The market witnessed mixed trading activity, with both gains and losses across key counters.
Leading the decliners was CBZ Holdings Limited (CBZ.zw), shedding ZiG 190.0000c to close at ZiG 1610.0000c. Tanganda Tea Company Limited (TANG.zw) also faced pressure, dropping by ZiG 16.4301c to settle at ZiG 165.1425c.
Another major loser was Star Africa Corporation Limited (SACL.zw), which eased ZiG 0.1000c, ending the day at ZiG 2.0000c.
On the upside, Econet Wireless Zimbabwe Limited (ECO.zw) emerged as one of the top gainers, rising by ZiG 16.0884c to close at ZiG 398.0366c. Mashonaland Holdings Limited (MSHL.zw) followed suit, adding ZiG 13.8000c to end the session at ZiG 106.0500c.
The largest counter by valuation, Delta Corporation Limited (DLTA.zw) posted a strong performance, gaining ZiG 10.9593c to close at ZiG 1871.9891c.
Dairibord Holdings Limited (DHL.zw) increased by ZiG 7.0524c, finishing the day at ZiG 247.0524c, while Meikles Limited (MEIK.zw) added ZiG 4.1008c to end at ZiG 44.6680c.
The total value traded on the ZSE rose to ZiG 12,67 million, an increase from ZiG 10,57 million recorded on Monday, indicating higher trading volumes and improved market liquidity.
Zimre Holdings Limited (ZHL) released its half-year results for the period ending June 2024, reporting a solid performance across its operations.
Insurance contract revenue surged by 63 percent to US$31,6 million, driven by increased demand in both domestic and regional markets.
“Our focus on diversified risk management solutions has allowed us to grow our insurance portfolio significantly,” commented the company.
Additionally, cash generated from operations grew by an impressive 79 percent, reaching US$10,6 million. The firm’s profitability was also robust, with profit after tax (PAT) increasing by 52 percent to US$6,8 million.
“The strong financial results underscore our resilience and ability to navigate the challenging macroeconomic environment, especially with the persistent inflationary pressures,” noted ZHL in a statement.
The company remains optimistic about its prospects for the remainder of the year, citing further opportunities for growth in its investment and reinsurance portfolios.
Bongani Ndlovu