Zimbabwe Stock Exchange records $171 billion revenue

The Zimbabwe Stock Exchange (ZSE) registered $171 billion in third quarter market turnover representing 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.

According to the latest ZSE Markets Newsletter which provides market highlights on the performance of the ZSE for the period July 1 to September 30, 2023, the top five traded counters contributed 87,5 percent of Q3 2023 turnover.

“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 market capitalisation lost 29 percent from the previous quarter, to close the quarter at $9,87 trillion. This represents 443 percent increase from the same comparative period last year. ZSE All Share Index lost 26 percent from Q2 2023 to Q3 2023 to close at 126,642.42 points.”

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 with $52,7 billion, Delta ($14,8 billion), Econet Zimbabwe ($5,8 billion), Meikles ($3,5 billion) and OK Zimbabwe with $3 billion.

The ZSE ETF Index, which measures the performance of ZSE listed ETFs was up by 11 percent in Q3 2023 to close at 1,596.31 points.

The total value traded on the ETF board was $84,8 million and the total number of ETF (exchange traded fund) units that exchanged hands in Q3 2023 was 7,5 million.

The market capitalisation for the ETFs was ZWL$39 billion at the end of Q3 2023. In the period under review, ZSE market capitalisation closed at $9,87 trillion, representing a 29 percent decrease from the previous quarter.

The top five biggest contributors to market cap were Delta with 30,36 percent, Econet (13,10 percent), FBC (5,44 percent) CBZ Holdings had 4,26 and  EHZL contributed 3,54 percent.

The bourse noted that the ZSE All Share Index, which is the measure of the overall market performance, was down by 26 percent to close at 126,642.42 points.

The ZSE top 10 Index which is the blue-chip index on the ZSE retreated by 39 percent to close the quarter at 56,560.21 points in Q3 2023.

The ZSE ICT Index recorded the highest loss for Q3 2023, registering a 41 percent drop to close at 78,092.73 points.


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