By Pride Mzarabani
HARARE – Trading activity on Zimbabwe’s equity markets remained subdued, reflecting a confluence of macroeconomic and policy-related headwinds, chief among them a tight monetary stance and heightened investor caution ahead of an anticipated monetary policy statement expected to set the policy trajectory for the first half of the year.
Despite Zimbabwe achieving single-digit inflation, improved price stability has yet to translate into a corresponding recovery in market liquidity, depth, or sustained risk appetite, with participation remaining thin and sentiment fragile.
At the close of Monday’s session, the ZSE All Share Index declined 1.31% to settle at 351.38. Market turnover amounted to ZWG 1.88 million, with 5.92 million shares exchanging hands across 47 deals. Econet dominated activity by value, contributing ZWG 1.09 million, while Tanganda Tea Company recorded the highest traded volumes.
The Top Ten Index shed 1.68% to close at 360.51, despite selective gains among heavyweight counters. First Mutual Properties Limited advanced 4.96% to 82.3943 cents, CBZ Holdings Limited edged up 0.37% to 1,265.00 cents, and Delta Corporation Limited added a marginal 0.08% to close at 2,904.7200 cents.
Despite being one of the largest and most significant tax contributors to the fiscus, Delta continues to demonstrate resilience in its operating performance. However, Econet Wireless Zimbabwe Limited weighed heavily on the index after retreating 5.59% to 899.0369 cents, as the company continues to trade under a cautionary statement while pursuing plans to delist from the ZSE.
The Mid Cap Index gained 0.84% to close at 328.53, supported by gains in First Mutual Holdings Limited, which surged 6.25% to 425.00 cents. OK Zimbabwe Limited rose 1.24% to 11.8000 cents, as the retailer continues to pursue a turnaround and recovery strategy amid a challenging operating environment.
On the downside, Seed Co Limited declined 3.05% to 455.6944 cents, while Hippo Valley Estates Limited slipped marginally by 0.01% to close at 872.00 cents.
On the Victoria Falls Stock Exchange (VFEX), the All Share Index fell 3.76% to close at 203.42, reflecting broad-based weakness across several counters.
VFEX gainers included Kavango Resources Plc, which jumped 14.29% to 2.00 US cents, Simbisa Brands Limited, which added 1.58% to 59.73 US cents, and Zimplow Holdings Limited, which edged up 0.25% to 4.09 US cents.
Trading on the downside saw Innscor Africa Limited retreat 11.00% to close at 1.11 US cents. First Capital Bank Limited lost 7.20% to settle at 8.76 US cents, while African Sun Limited eased 4.23% to 4.68 US cents. Invictus Energy Limited Depository Receipts declined 3.45% to close at 14.00 US cents, Axia Corporation shed 1.70% to 13.27 US cents, Padenga Holdings slipped 0.49% to 72.51 US cents, and SeedCo International eased 0.13% to close at 29.95 US cents.
