Zimbabwe Stock Exchange Sees 32% Market Cap Decline in November
TLDR
- The Zimbabwe Stock Exchange (ZSE) market cap experienced a 32% decline
- All-Share Index falling by 8.31%, Medium Cap Index rose by 2.26%, and the Small Cap Index remained steady
- The Victoria Falls Stock Exchange (VFEX) also saw a 0.32% market cap dip
The Zimbabwe Stock Exchange (ZSE) experienced a 32% decline in market capitalization in November, with the All-Share Index falling by 8.31%.
Losses in the Top 10 and Top 15 indices drove the downturn, though the Medium Cap Index rose by 2.26%, and the Small Cap Index remained steady. Monthly turnover dropped to ZiG287 million, a significant decline from October’s ZiG503 million, primarily driven by activity in Delta and Econet.
CFI Holdings led the gainers with a 48.65% increase, while CBZ recorded the steepest decline at -31.84%. The Victoria Falls Stock Exchange (VFEX) also saw a 0.32% market cap dip and a 6.7% turnover decline to US$3.5 million.
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Points clés à retenir
Leading securities firms attribute ZSE’s slump to undervalued stocks and stagnant price adjustments. Policy interventions, including an interest rate hike from 20% to 35% and increased reserve requirements, aim to curb inflation but have constrained liquidity. Improved dividend payouts and demand for US dollars on the VFEX are expected to boost liquidity in the coming months.
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