The Sunday News
THE Zimbabwe Stock Exchange reached unprecedented levels on Thursday with the overall market capitalisation closing the day at $112,1 billion.
The ZSE has been a standout performer even in US dollar terms. The $112 billion market cap puts its value at US$4,48 billion using the official exchange rate pegged at 25.
Using a parallel market rate of 60, the market value will come down to US$1,86 billion, which is still higher than the 2 January value of US$1,17 billion using 31 December 2019 parallel market rates.
The equities market has been on an upward trajectory for the better part of the year, but the gains have been more pronounced during the month of May where the overall market value has put on significant gains.
At the end of April, the ZSE was valued at $62 billion, but has since put on 80,6 percent to current levels
The All Share index gained another 46.36 points (5,35 percent) to close at 913.24 points. Insurance giant Old Mutual Limited led the movers with a $6,6165 gain to close at $74,6665, Cafca rose by $4,7500 to close at $28,7500 and Natfoods gained $2,5000 to $36,1000. Innscor also increased by $2,2395 to $13,8461 and Delta traded $1,4358 stronger at $12,0108.
Gains were offset by losses in RioZim which dropped by $7,8000 to $7,800, Hippo Valley Estates which eased $1,0358 to $8,8042 and First Mutual Limited which traded $0,2796 lower at $2,5004. First Mutual Properties also decreased by $0,1500.